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"Solana Tokens Set for February Surge: UNI, JUP Eye New Highs"

Coin WorldWednesday, Jan 29, 2025 6:06 am ET

1min read

Solana-Based Tokens Poised for Breakout in February 2025

The crypto market experienced a turbulent January, with several cryptocurrencies hitting new all-time highs before undergoing sharp corrections. Despite this volatility, some assets have managed to recover their losses and are now positioned near key resistance levels, potentially setting the stage for new highs in the coming month. BeInCrypto has identified three Solana-based tokens that are primed for breakout rallies and analyzed their potential price trajectories.

Uniswap (UNI)

Uniswap is the most popular decentralized trading protocol and facilitates automated trading of DeFi tokens without any need for a third party. The native token, UNI, which is used as a governance token and to pay fees, has been performing exceptionally well. The price has been maintaining a consolidated ascending trend followed by a huge breakout. Presently, the UNI price is trying to reverse the bearish trend, and once validated, a 50% upswing could be imminent.

As seen in the above chart, the UNI price has been trading within a rising parallel channel for over a couple of years. After testing the resistance and support, the price is trying hard to validate a rebound from the average levels as RSI has also displayed a bearish divergence. Moreover, the 50/200 day weekly MA is healing towards the very first bullish crossover or the Golden Cross, which is expected to offer more bullish momentum that may push the price beyond $20.

Jupiter (JUP)

Jupiter, the most advanced swap aggregation engine on Solana, has raised many eyebrows in recent times. With a huge influx of liquidity, the token possessed massive volatility, causing a ‘v-shaped’ recovery in the JUP prices. Currently, the bulls appear to have drained out of strength as the volume has dropped and the token is experiencing significant upward pressure. However, the token has attempted to surpass $1.25 a couple of times, and hence another attempt could clear these levels.

The JUP price is constantly trying to achieve the local resistance at $1.3 while the bears are restricting the levels at $1.25. The RSI remains incremental while the CMF has regained levels above ‘0’. These indicators suggest the market strength is increasing, which could further keep up the momentum of

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