Solana (SOL)
The fifth-largest cryptocurrency by market cap, Solana (SOL) tops our list of Cardano rivals amid high-momentum rally and on-chain recovery. In the last two months, the Solana price prediction showcased a sustained rally from $120 to $174, registering a growth of 45%.
According to data from"
TheBlock, the Solana Network saw its new addresses surge from 3.05 million to 5.76 million in October, marking an 88% surge. This impressive increase implies heightened user adoption and growing interest in the Solana ecosystem, potentially signaling increased transaction volume and network activity.With sustained buying, the SOL price is poised to surge 3% before escaping the major resistance that drove the last 7-month consolidation.
Avalanche (AVAX)-
Like other top altcoins on this, the Avalanche coin has traded sideways for the past four months, struggling to sustain above $34. However, the consolidation revealed the formation of a bullish reversal pattern called an inverted head and shoulder in the daily chart.Theoretically, the pattern displays three troughs with the middle extended lower than the other two. These lower price rejections indicate an active demand pressure and a fresh breakout opportunity as the price breaks the neckline resistance.
The current Avalanche price prediction indicates a trading value of $25.6, with the potential for a 13% surge ""ahead of a major breakout. Sustaining this breakout would provide a stronger indication of bottom formation and an early sign of trend reversal.Toncoin (TON)
Contrary to other Cardano Rivals, the Toncoin price displays a major upward trend. Thus, market analysts believe the current correction in TON price is an opportunity for buyers to recuperate the bullish momentum.
By press time, the ""Toncoin price had traded at $5, testing the multi-month support of $4.6. While the price holds this support, the 30-day Market Value to Realized Value ratio (MVRV) has plunged to -4.85% region, indicating short-term( holders) are making a loss.Typically, this negative value leads to panic selling of speculative traders, which triggers initial volatility and a temporary pullback. However, long-term buyers often use such a situation to enter at a discounted price while the asset gains a sharp reversal.Conclusion:
As ADA price remains in prolonged consolidation, investors may find promising opportunities in its top Cardano rivals,Solana, Avalanche, and Toncoin. With Solana’s growing user (base) Avalanche’s bullish reversal pattern, and Toncoin’s support at a critical level, these assets are well-positioned to capture investors’ attention.
