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A cryptocurrency analyst on the Crypto Banter podcast has confirmed the beginning of a crypto market uptrend following significant breakouts observed among top cryptocurrencies.
Starting with Bitcoin (BTC), the analyst showed the cryptocurrency has broken above a downward trendline on the weekly chart, which started from an all-time high in March. He also spotted signals among the top altcoins, suggesting the beginning of the long-awaited bull run.
Focusing on the altcoin market, the Crypto Banter analyst said Solana (SOL) is leading the race, given its behavior in the past few days. SOL continued upward, having discovered its momentum in the past two weeks. The altcoin has surged 11% since last Sunday, adding to the bullish movement of the past two weeks.
Read also: Solana Surpasses Ethereum: Is a Solana Bull Run Imminent?
Beyond SOL, the analyst noted that the bullish momentum cuts across the entire ecosystem, with Solana-based tokens moving out of the bearish trend and portraying a bullish outlook. He cited Raydium (RAY) and Jupiter (JUP) as notable Solana-based tokens signaling a bullish reversal. As of the analysis, RAY surged 7.11% while JUP rallied 5.28%.
L1 Tokens Show Bullish Tendencies
From a broader perspective, the Crypto Banter analyst observed a resurgence of L1 tokens, stating that many L1 blockchain tokens reflect bullish tendencies, citing Sui Network’s SUI as a leader in this category. However, he stated that some altcoins might drop this week while attracting more volume for the upcoming bull run. The altcoin market is at a critical point.
According to the Crypto Banter presenter, moments like this in the crypto market are when users ensure they stay in the game. Investors may add to their positions or hold their current portfolios. Any pullback in the next few days would be temporary, and crypto traders can consider such pullback opportunities to add to their positions.
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