Solana

Jupiter

Chainlink

Rekt

After retesting $42,000 support on Thursday, Bitcoin price steadied above $43,000 in both the European and US sessions, sustaining at least a 2% gain in 24 hours. Top&nbsp;<a href="https://coingape.com/markets/top-3-altcoins-to-buy-today-february-1-solana-sol-jupiter-jup-manta/">altcoins to buy like Solana</a>&nbsp;(SOL) and Chainlink (LINK) spearhead the recovery, likely to improve sentiment into the weekend. 
LINK rallied in double-digits, touching a 22-month high slightly above $18. The Oracle token has in the last seven days sustained an uptick, increasing by 30%, outperforming both Bitcoin and Ethereum. 
Read also:&nbsp;<a href="https://coingape.com/markets/bitcoin-price-eyes-parabolic-rise-in-2024-but-has-q1-altcoin-hype-cycle-started/">Bitcoin Price Eyes Parabolic Rise In 2024 But Has Q1 Altcoin Hype Cycle Started?&nbsp;</a> 
According to Rekt Capital, an analyst and trader with over 394k followers on X, this rally could mark the beginning of a quarter 1 “altcoin hype cycle.” In Q4 Solana emerged as a top performer backed by a commendable trajectory from around $20 to #125. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Both <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> &amp; <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> kickstarted the 1st wave of Altcoin rallies months ago 
 They were the top performers in the Q4 Altcoin Hype Cycle of 2023 
 Both <a href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw">#SOL</a> &amp; <a href="https://twitter.com/hashtag/LINK?src=hash&amp;ref_src=twsrc%5Etfw">#LINK</a> are rallying today, outperforming yet again 
 Market may be gearing up for a Q1 Altcoin Hype Cycle<a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> <a href="https://t.co/6mqclYIReQ">pic.twitter.com/6mqclYIReQ</a> 
 — Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1753372505178267864?ref_src=twsrc%5Etfw">February 2, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 class="p1" id="why-is-solana-sol-among-the-top-altcoins-to-buy">Why Is Solana (SOL) Among The Top Altcoins To Buy</h2> 
Solana has been showing strength all week except for the period of volatility on Wednesday and Thursday which was due to pressure from the Federal Reserve as Chair&nbsp;<a href="https://coingape.com/markets/bitcoins-coveted-88000-peak-in-2024-holds-despite-powell-scattering-hope-for-march-rate-cut/">Jerome Powell</a>&nbsp;scattered hope for the first rate cut in March. 
The smart contracts token returned below $100 but bounced off the low range support at $98 reinforced by the 200-day Exponential Moving Average (EMA) — the purple line on the chart. This drop followed an early week breakout to $106. 
Solana is currently battling resistance at $100, maintaining a 5.5% gain in the last 24 hours. 
<figure id="attachment_178220" aria-describedby="caption-attachment-178220" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-178220" src="https://coingape.com/wp-content/uploads/2024/02/LINKUSD_2024-02-02_17-06-41.png" alt="Solana price chart " width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/02/LINKUSD_2024-02-02_17-06-41.png 2710w, https://coingape.com/wp-content/uploads/2024/02/LINKUSD_2024-02-02_17-06-41-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/02/LINKUSD_2024-02-02_17-06-41-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/02/LINKUSD_2024-02-02_17-06-41-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/02/LINKUSD_2024-02-02_17-06-41-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/02/LINKUSD_2024-02-02_17-06-41-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/02/LINKUSD_2024-02-02_17-06-41-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-178220" class="wp-caption-text">
 Solana price chart | Tradingview
 </figcaption>
</figure> 
Solana’s outlook on the four-hour chart reveals that finding support above $100 could steady the uptrend and trigger a signal on the Moving Average Convergence Divergence (MACD). A bullish crossover occurs when the blue MACD line flips above the red signal line, improving sentiment and encouraging traders to buy SOL. The next breakout above $125 (December peak) would usher in a FOMO-driven rally toward $200. 
<h2 class="p1" id="is-chainlink-link-gearing-up-for-further-gains">Is Chainlink (LINK) Gearing Up For Further Gains?</h2> 
Chainlink broke out on Friday during the Asian and European sessions in a move that has seen it escape a long-term descending trendline resistance. After trading a 22-month high above $18, LINK seems prime for gains beyond $20. 
However, bulls must prove their readiness by closing the day above $18 to maintain the positive sentiment. 
Ali, a crypto analyst, in an insight shared on X, said that on-chain data pinpoints a significant resistance at 20 where 5,330 addresses previously purchased 8.59 million LINK. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> appears primed for further gains! On-chain analytics reveal a significant resistance level at $20, where 5,330 addresses collectively hold approximately 8.59 million <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>. <a href="https://t.co/cO1or7FRCd">pic.twitter.com/cO1or7FRCd</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1753388960275992590?ref_src=twsrc%5Etfw">February 2, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
With a successful retest of the resistance,&nbsp;<a href="https://coingape.com/chainlink-link-price-shoots-17-dominating-altcoin-rally-next-target-25/">Chainlink</a>&nbsp;could carry on the uptrend targeting its all-time high of $52. A delay in climbing above this same hurdle will encourage consolidation between $12 and $18, allowing LINK to collect liquidity before moving higher. 
<h2 class="p1" id="jupiter-jup-keeps-uptrend-steady">Jupiter (JUP) Keeps Uptrend Steady</h2> 
JUP, a token native to&nbsp;<a href="https://coingape.com/jupiter-airdrop-traders-nab-over-1-mln-profit-whats-next-for-jup/?utm_source=24hrsupdateall">Jupiter exchange</a>, continues to create a buzz across the crypto landscape as traders stream to exchanges to seek exposure following an airdrop. 
The price stayed in the green on Friday, with its value growing by 2.6% to $0.61 despite JUP’s trading volume decreasing by 54% to $700 million in 24 hours. 
<figure id="attachment_178219" aria-describedby="caption-attachment-178219" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-178219" src="https://coingape.com/wp-content/uploads/2024/02/JUPUSDT_2024-02-02_17-26-30.png" alt="JUP price chart " width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2024/02/JUPUSDT_2024-02-02_17-26-30.png 2710w, https://coingape.com/wp-content/uploads/2024/02/JUPUSDT_2024-02-02_17-26-30-300x161.png 300w, https://coingape.com/wp-content/uploads/2024/02/JUPUSDT_2024-02-02_17-26-30-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2024/02/JUPUSDT_2024-02-02_17-26-30-768x412.png 768w, https://coingape.com/wp-content/uploads/2024/02/JUPUSDT_2024-02-02_17-26-30-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2024/02/JUPUSDT_2024-02-02_17-26-30-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2024/02/JUPUSDT_2024-02-02_17-26-30-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
 <figcaption id="caption-attachment-178219" class="wp-caption-text">
 JUP price chart | Tradingview
 </figcaption>
</figure> 
The latest price outlook reveals the struggle to break resistance at $0.64. If pushed out of the way, <a rel="nofollow" href="https://www.coingecko.com/en/coins/jupiter" target="_blank">JUP</a> would move higher to $0.66 as part of a potential trajectory to $1. Traders should look out for ascending trendline support which will likely springboard the token to higher levels. 
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The post <a href="https://coingape.com/markets/top-3-altcoins-to-buy-today-february-2-solana-sol-chainlink-link-jupiter-jup/">Top 3 Altcoins To Buy Today February 2: Solana (SOL), Chainlink (LINK), Jupiter (JUP)</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Top 3 Altcoins To Buy Today February 2: Solana (SOL), Chainlink (LINK), Jupiter (JUP)

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