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Cryptocurrencies have been experiencing volatile price movements since the last halving event. Amid these price movements, attention has turned towards major altcoins. Let’s take a closer look at the price outlook for Solana (SOL), Cardano (ADA), and Toncoin (TON).
Solana (SOL) Commentary
As of this writing, Solana has found buyers at the $144 level after a 0.06% decline over the last 24 hours. A recent drop in Bitcoin last week triggered a major cryptocurrency sell-off across the broader market, including Solana.
Looking at Solana’s weekly price performance, it is evident that it is now trading in the negative zone after previously reaching high price levels.
Despite the downturn this week, SOL continues to outperform the market in gains similar to last year. However, the current sales seen in April could be negatively impacting SOL’s future outlook.
Over the past 5 days, Solana experienced a drop of about 9% before showing a slight rise, instilling fear in its investors. While the bulls continue to aim for an ATH target for this year, investors are still selling altcoins this month.
Will Cardano (ADA) Rise?
Cardano, known for its strong community, sees its native token ADA among the uncertain altcoins this month.
Large volatile price movements in the market caused its price to drop to $0.46, while its market value fell to $16.6 billion.
The price has recovered from this level, rising to $0.4713 today after a 0.69% increase. Despite this price rise, ADA’s trading volume has decreased by over 26% to $342 million.
This situation could be interpreted as investors being reluctant to sell, or similarly, potential buyers are not willing to purchase at these prices.
Although some positive price movements were seen in Cardano post-halving, the liquidations positioned it as an altcoin to watch towards the end of April.
What’s the Price of Toncoin (TON)?
Last month, Toncoin made a significant impact on the market, moving into the top 10, but it is currently experiencing one of the highest altcoin losses with a weekly drop of over 15%, priced at $5.41. In the last 24 hours, TON has seen an increase of nearly 3%.
On the other hand, TON’s 24-hour trading volume has also decreased by 20%, falling to $204 million.
Throughout April, Toncoin faced significant liquidations due to large sales by investors driven by geopolitical and economic factors. Whether this trend will continue into the next month remains a subject of interest.
