Can these SOL altcoins restore investors' confidence in the currency market!
The cryptocurrency market is showing early signs of a rebound, with Ethereum (ETH) bouncing back from last week's low of $1,774 and currently trading at $2,040, up 7% today, following the Federal Reserve's decision to keep interest rates unchanged.
As market sentiment gradually improves, top altcoins like Solana (SOL) and Sui (SUI) have also begun to show momentum.
These two tokens have been hit hard over the past few months, but today’s strong rise and current price trends suggest that a recovery may be in the works—especially as they approach key resistance levels in a bullish descending wedge pattern.
Solana (SOL)'s daily chart shows a descending wedge pattern—a typical bullish reversal pattern that has been forming since being rejected at a high of $295 on January 19. The subsequent correction dragged SOL down over 60%, hitting a low of $112 on March 11, where buyers stepped in to defend the key support level.
Since then, SOL has rebounded to $133 and is currently nearing the upper boundary of the wedge. If the price breaks out and successfully retests and maintains above this resistance level, SOL could target the 50-day moving average and the $181 area—implying a potential rise of 39% from current levels.
Both SOL and SUI are approaching key technical levels, and the bullish descending wedge pattern points to a possible breakout. If volume and subsequent price action confirm this, these breakouts could signal the start of a broader recovery in the altcoin market.
