SOL, INJ, and RUNE are ready for the next big move
As BTC prepares to move higher, altcoins are jockeying for position, with the strongest among them including SOL, INJ, and RUNE.
As the next phase of the bull run begins to take shape, choosing the right altcoins is crucial. Holding a large number of altcoins is arguably not the best way to bet, as there is an opportunity cost in backing losers and weak performers.
Therefore, careful thought is required when choosing altcoins that could potentially offer the biggest gains. That said, copying traders or getting sucked into the hype of influential people may not be the way to go. Getting a ton of expert opinions, and then making your own choices based on those opinions, may be a more beneficial strategy.
SOL, INJ, and RUNE are three of the top altcoins that have the fundamentals and use cases to thrive and last into the next bull run. Moreover, all three are among the earliest altcoins to get off the ground, according to technical analysis.
SOL is on track to hit a new all-time high
SOL is a pretender to ETH’s throne. ETH has a much larger market cap and has been the forerunner for many years. However, SOL has outperformed ETH by over 700% over the last year and is currently looking to break higher, favoring this pairing.
Looking at the weekly chart for SOL, it can be seen that the strong uptrend is intact, and even the recent correction has not seen the candle body close below the trendline. Strong resistance is located at $202, and a breakout above this resistance could see SOL hit the all-time high of $260 set in November 2021.
INJ Recovers from a Sharp Correction
Over the course of ten weeks, INJ has suffered a sharp 65% correction in the latest overall crypto market correction. This has resulted in the price needing to fight back against several resistance levels before it can begin to move back towards all-time highs. That said, the bottom seems to have been found and the price has begun to move back up again. Monday morning found INJ up over 5% on the day, and it can be expected that INJ will continue this positive price action.
RUNE Is About to Break Resistance
RUNE has just entered its fourth week of green candles. This progress caused the price to rise to test the $6.90 resistance level, which is also very close to the 0.382 Fib level of $7.00. Breaking through these two barriers will open the way to $8.0.618 at $74 and 0.786 at $9.95 are on the way. For more inspiring targets, the 1.618 Fibonacci is $15.91 and the all-time high is $21.26.
