Solana Surges 16% Post-Thursday, Gaining on Cardano and XRP

Solana (SOL) has outpaced Cardano (ADA) and XRP in recent price momentum and all-time high breakthroughs. According to AMBCrypto's analysis published on the 19th, Solana surged approximately 16% since Wednesday, compared to Cardano's 14% and XRP's 11%. Solana broke through a swing high of $98.41 (about KRW 138,000), shifting its daily price structure to bullish territory. It later faced resistance around $110 (about KRW 154,000) but held support between $95-$100 (about KRW 133,000-$140,000), with the next resistance level at $119.60 (about KRW 167,000). Cardano maintained a higher high and higher low structure since July's breakout, testing support around $0.19 as it recently adjusted. Key resistance levels were noted at $0.23 and $0.255 during the analysis period. XRP also maintained a bullish structure but faced pressure from long-term supply zones that previously halted rallies. While Solana led in recent gains, Cardano and XRP are seen as having catching-up potential. However, this is purely technical and does not guarantee future price movement. A sharp Bitcoin (BTC) correction could weaken the overall altcoin rally, as altcoin prices remain influenced by market liquidity and Bitcoin's direction. Glassnode reported on August 18 that the proportion of altcoin futures open interest has yet to reach a level indicating overheating relative to Bitcoin. The narrowing gap between Bitcoin and altcoin open interest ratios historically signaled market overheating. Open interest refers to the total value of unsettled futures and options contracts, but does not guarantee leverage or spot buying pressure for individual tokens. Glassnode also noted that after a broad rally in late August, the Altseason Index reached 75, but the upward momentum has already weakened. The simultaneous rise of all assets often signaled a risky phase rather than the start of sustained growth. The Altseason Index measures how many altcoins have outperformed Bitcoin over a period. While Solana currently leads in technical momentum, Cardano and XRP's potential catch-up, as well as each asset's September performance, will depend on the extent of Bitcoin's correction and changes in altcoin derivative positions.