The Solana token (SOL) and Compound (COMP) led Tuesday’s gainers among the top capitalized coins. Solana gained more than 6% in 24 hours, placing it as the highest gainer among the top 50 capitalized coins. It is currently trading at $22.07. On the 7-day chart, Solana is up by 14%.
Other tokens that made remarkable gains among the top 100 are Polygon (MATIC), which gained about 5%, and Render Token (RNDR), which went up by 4% in the course of 24 hours.
Compound Price Analysis
The COMP/USDT chart registered a relative strength index (RSI) of 70 on Tuesday. This means that we will soon see a reversal in trend. Compound, which has seen an impressive run in the past 24 hours, could move into a consolidation stage if the general market sentiment persists.
We cannot confirm that the asset is close to being overbought with the Moving Average Convergence/Divergence indicator, which had its last crossing on June 23. However, we can deduce that any short-term price reversal would be temporary, judging from the trendlines for the COMP/USDT 4-hour chart.
Solana Price Analysis
In the SOL/USDT chart, Solana registered a relative strength index (RSI) of 61, which is indicative that the coin is not yet in the overbought region.
We can also confirm this using the MACD indicator. From Today’s trendline crossing, we can confirm that Solana is bullish. We will certainly see a higher value for the asset in the coming hours or days based on the 4-hour chart.