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Solana and Algorand prices are in range. Even so, SOL is steady above $220 as ALGO bulls sustain the coin inside the wedge and $1.6.
Solana (SOL)
The high throughput, the interoperable platform focuses on, among other fields, NFTs and DeFi. Central to their processes is the SOL coin.
Past Performance of SOL
The Solana coin is one of the top performers, recently rallying to new all-time highs above $260. At spot levels, SOL crypto prices are cooling off though the uptrend remains bullish.
Day-Ahead and What to Expect
The SOL technical analysis points to a bullish breakout pattern.
However, the series of lower lows from recent highs suggest weakness.
For the uptrend to be valid, SOL/USDT must sustain prices above the middle BB and $220—flashing with the Q3 2021 highs.
Losses below this mark may cancel buyers, paving the way for sellers in the short term.
Solana Technical Analysis
The technical candlestick arrangement of Solana's price suggests strength from a top-down view.
Nonetheless, SOL token sellers have the upper hand as long as prices trend around $220 and the 20-day moving average.
The only way forward and SOL buyers supported is if there is a price surge above $260—all-time highs.
If not, and sellers come on top, SOL/USDT may tank to $170—or lower in the short term.
Algorand (ALGO)
The smart contracting platform and high activity network rely on ALGO as its internal currency.
Past Performance of ALGO
Like the rest of the crypto market, Algorand token prices are solid.
As per the ALGO technical analysis of the daily chart, prices are moving horizontally inside a rising wedge.
Nonetheless, buyers have a chance as long as ALGO coin prices trend above $1.6.
Day-Ahead and What to Expect
Algorand crypto buyers are in a commanding position even though ALGO/USDT prices are trapped in a wedge.
In the short term, how prices react at $2 and $1.6—on the lower end—would determine the short to medium-term trend.
Should Algorand coin buyers take charge, ALGO may fly to $2.5 in buy trend continuation.
However, losses below $1.6 may force a liquidation down to $1.15.
Algorand Technical Analysis
Despite the sideways movement, Algorand buyers remain in control.
As such, a close above the wedge may inject momentum, lifting ALGO towards $2.5.
It would be a development that may see aggressive Algorand trader ride, swinging towards all-time highs.
On the flip side, an unexpected high-volume dump below $1.6 will confirm losses of late October, subsequently forcing ALGO towards $1.15—or worse.