The crypto market is displaying signs of uncertainty as the worldwide cryptocurrency market capitalization stands at $1.61 trillion, a 5.98% rise in the past day. With a total market volume of $69.51 billion, 11.34% of it is attributed to the DeFi sector.
It seems the crypto market is in a post-rally consolidation or correction, which may assist buyers to regain the exhausted bullish momentum for higher recovery. Therefore, tokens like Solana (SOL), Helium (HNT), and Woo Network (WOO) have the potential to resume the recovery trend.
Solana Price Analysis: High Momentum Rally to Chase $100 Next
The massive interest in Solana’s BONK dog-themed crypto has raised the sales for the Saga smartphone, which was earlier struggling with poor sales. This phone, designed for secure crypto storage, offers a 30 million BONK token airdrop, worth about $700, surpassing the phone’s cost of $599. As a result, Saga’s sales have seen a tenfold increase in 48 hours.
This surge has had a positive effect on the Solana price, which trades at $78.1, representing a 270% growth in the last two months. The ascending trendline and increasing volume signify sustainable growth. The dynamic support from the trendline has also allowed the Solana coin to break a significant barrier, potentially leading to a recovery trend to $95.6, followed by $110. The upsurge in the Bollinger band indicator shows that buyers are dominating the asset.
Helium Price Analysis: Will HNT Recovery Surpass $10?
Helium, the 57th largest cryptocurrency in terms of market capitalization, has become one of December’s top performers. This is backed by the positive momentum in the Solana price and the progress of Helium Mobile. The recent launch of Helium’s $20/month unlimited nationwide phone plan has also contributed to this upswing.
The Helium price (HNT) has recently broken out of a 16-month-long Cup and Handle pattern, signaling a potential trend reversal and creating new buying opportunities. The HNT price is currently trading at $7.87, showing a 187% increase from its monthly low of $2.739. If this trend continues, the altcoin could reach target levels of $10.84 and then $15.74. The Relative Strength Index (RSI) at 82% confirms the strong and aggressive buying momentum.
AAVE Price Analysis: Pennant Pattern Hints Uptrend Continuation
In November, the AAVE coin price was mainly in sideways movement, indicating investor uncertainty. However, a closer look at the daily time frame chart suggested that this was forming a bullish continuation pattern called a pennant. On December 13th, the AAVE price started to gain momentum, bouncing back from the $90 level. This reversal has seen an increase of 30% in value over three days, culminating in a bullish breakout from the pennant pattern.
At present, AAVE is trading at $114 and the chart pattern suggests the coin price is likely to continue its upward trajectory, possibly reaching targets of $131 and then $163. An increase in the Average Directional Index slope at 26% implies buyers have enough power to drive the coin’s market value higher.
