With Bitcoin currently breaking out, some of the leading layer 1 altcoins are also heading higher. Solana (SOL), Kaspa (KAS), and Sonic (SONIC) are among the frontrunners.
$SOL rallying but heavy resistance still to come
Source: TradingView
Taking hold above the support at the $145 horizontal level, the $SOL price looks ready to continue going higher. While the $BTC chart might look a lot more simple and perhaps more bullish, if the $SOL bulls can get above the descending trendline, and the horizontal resistance levels at $170 and $180, it can be game-on for $SOL for the rest of this bull market.
$KAS about to break back into a 2-year range
Source: TradingView
The $KAS price looks set to break back into the range it has generally traversed within since mid-November 2023. While this is good news for the bulls, it does reiterate the fact that the price is still only just returning to a level it surpassed back in late 2023 when the bull market was drawing towards the end of its first year. With the bull market heading towards its potential conclusion at the end of this year, $KAS bulls need to get their skates on.
Nevertheless, breaking back into the range could result in the price rising back to the top at $0.19, which wouldn’t be that far away from the all-time high at just under $0.21. Breaking back above $0.106 could be the first step towards this.
Clear skies above resistance for $SONIC
Source: TradingView
$SONIC is one of the highest performers so far on Thursday. An 18% rise earlier in the day was able to just touch and confirm the major resistance at $0.345. Since then, the price has decreased somewhat and is settling just above the $0.317 horizontal level, perhaps with a view to making another attempt at the major resistance.
The interesting thing about the $SONIC price is that if the bulls can force it above this major resistance, there isn’t a lot to stop it going higher until it reaches $1.17, and then the all-time high at $1.30. Traders should keep an eye on this one.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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