Altcoin
Rise of Solana-based Altcoins! What is the future of MEW and HIGH tokens?
With increased price volatility in the cryptocurrency market, top tokens have shown significant price action in their respective portfolios since the start of the week. Furthermore, the Bitcoin pricecontinues to maintain its price above the $71,000 mark, indicating strong bullish sentiment.
Furthermore, Solana-based tokens have regained momentum in recent days by adding massive valuations to their portfolios. Amid growing bullish influence, will altcoins Cat in a Dogs World (MEW) and Highstreet (HIGH) outperform top tokens this month?
Price analysis of Cat in a dogs world (MEW):
The MEW token gained 37.72% in the last day and 43.19% in the last seven days. Furthermore, the memecoin’s valuation has increased by 66.54% since its inception, highlighting a bullish outlook for the altcoin in the coming weeks.
TradingView: MEW/USDT
The SMA consistently supports the price chart on the 4H time frame, suggesting a positive influence for the MEW cryptocurrency on the market.
The technical indicator, MACD, is showing a significant increase, indicating increased buying-selling pressure in the crypto space. Furthermore, the averages show a bullish increase, highlighting that the Cat in a Dogs World token will continue to rise in the coming period.
If the market continues to trade with a bullish sentiment, the MEW price will prepare to test its upper resistance level of $0.00700. Conversely, bearish price action could push the MEW coin price towards the lower support level of $0.004655.
Highstreet price on the verge of a big breakout:
Highstreet (HIGH) price has increased by around 27% in the last day and 19.50% in the last week. Furthermore, the altcoin has seen a 2x increase in the last 30 days and has a year-to-date (YTD) return of 410%, indicating growing investor interest in it.
TradingView: HIGH/USDT
With a trading price of $7,995, a circulating supply of 50,365,992 HIGH tokens, and a market capitalization of $420.63 million, the Highstreet cryptocurrency has secured the 186th position on the global cryptocurrency market list.
The Relative Strength Index (RSI) is recording a strong bullish trend on its chart, breaking above the overbought range, indicating a bullish reversal in the cryptocurrency sector. Furthermore, the average shows a bullish curve, suggesting that the price will continue to gain value in the coming times.
If the market holds Highstreet price above the $8 support level, the bulls will regain momentum and prepare to test its upper $10 resistance level in the coming weeks. However, a bearish reversal could push the price HIGH towards the lower $6 support level this month.