Solana (SOL) $200 Level Recovery Looks ‘Very Solid’, Is The Bleeding Over?
As most of the crypto market remains in red, Solana (SOL) has started to recover from the market’s sharp correction. The cryptocurrency’s price has surged 7.5% in the last 24 hours, recovering from its three-week low and leading some analysts to suggest the bleeding might be over. Related Reading: Ethereum Long-Term Bullish Structure At Risk – $2,700 Support Is Key for a $7K Target Solana Falls To Three-Week Low Over the weekend, Solana recorded a 27% price plunge from Friday’s highs to a three-week low of $175. This performance followed the overall market crash, fueled by the US....
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Solana started a recovery wave from the $128 zone. SOL price is up over 6% and the bulls seem to be aiming to reclaim the $150 level. SOL price started a decent upward move above the $132 resistance against the US Dollar. The price is now trading above $135 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $136 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could continue to rise toward $150 or even $155 in the near term. Solana Price Trims Some Losses Solana price managed to stay above the $120 pivot....
Solana depreciated by almost 6% over the last 24 hours as the broader market started to get choppy. Bitcoin was seen trading below the $40,000 mark while Ethereum broke the support level of $3,000. The global market currency cap stood at $1.94 Trillion after a fall of 6% over the past day. Solana had depicted considerable recovery on charts as it broke subsequent price ceilings over the past week. The coin had managed to revisit the $110 level which the coin hovered near thrice in the past week or so. Following the recent dip, buyers decided to exit the market as the coin witnessed a....
Solana price has been trading laterally as the altcoin has not been able to move past the $40 price mark. The altcoin has experienced a blow recently as thousands of wallets were drained of their assets owing to an exploit. The latest exploit had allowed hackers to drain the funds using private keys. After the attack on the network, Solana’s value swiftly dropped to $38. Solana price has now been stuck at the $40 level. The current support level for the coin stood at $40 and failing to stay on the aforementioned price mark, SOL could fall to $36. Bitcoin too has been consolidating at....
Solana has been currently trading within a consolidation phase. Despite a recovery on charts, the coin is trading at the level it last traded in the month of August, last year. Over the last few days, the coin observed lateral price movements. Usually after a consolidated phase, it can be assumed that the altcoin could witness a change in the price movement. Technical outlook painted a positive price action for Solana on both its hourly as well as daily chart. Solana has recovered by over 40% from its lowest price which was recorded mid month, this year. At the moment, Solana has been....