Solana, DogeCoin & Ethereum — Asian Wrap 27 October

Solana price has rallied 15% during the final week of October. A Fibonacci retracement tool shows the current consolidation as shallow while the volume remains low, hinting that the uptrend will continue. Invalidation of the bullish thesis is a breach below $28.25.

Dogecoin price noted an unexpected rise on Wednesday, following a green candle from the day before. Two reasons played a crucial role in this rally, the first being the broader market cues and Elon Musk, aka “DOGEfather,” being the second.

Ethereum price yielded nearly 13% gains overnight for holders, leaving Bitcoin, Dogecoin and other altcoins to bite the dust. Analysts believe the narrative of Ethereum’s market capitalization exceeding that of Bitcoin has become relevant.