Solana Sustains Steady Recovery After Over 100% Price Gain In Q1 2023
The price of Solana (SOL) has continued to enjoy a steady recovery after going down nearly 95% in 2022, partly due to its association with Sam Bankman-Fried and his collapsed ventures, FTX and Alameda Research. Solana’s Price Surges 100% In Q1 2023 In the first quarter of 2023, Solana’s price experienced a significant surge of 104%, reaching approximately $20.60 per SOL. This growth rate outperformed every other cryptocurrency in the top 25, including Bitcoin BTC ($27,946) and Ether ETH ($1,849). Solana’s price performance in January 2023 surpassed any other month since....
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Solana has gotten a bearish warning despite being one of the best performers over the last year. This prediction goes against the grain of current speculation where a rise to as high as $1,000 has been forecasted for the price. But it seems not everyone shares this sentiment as one crypto analyst has predicted that the auction’s price could suffer a massive 42% crash from here. Solana Price Turns Bearish In an analysis on the TradingView website, crypto analyst Alan Santana has warned that the Solana price is turning bearish. The analyst points to developing trends in the year 2024....
Solana started a steady increase above the $165 resistance zone. SOL price is trading well above $175 and aiming for more gains above $185. SOL price is showing positive signs from the $165 support zone against the US Dollar. The price is now trading above $172 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $177 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could gain bullish momentum to retest $200 if it clears the $182 resistance. Solana Price Eyes More Upsides Solana price formed a base above....
Faith sustains the price of bitcoin in the same way it sustains the price of other asset classes.
Solana has staged an impressive recovery, surging over 14% from its recent local lows, showcasing resilience after a period of correction. This renewed momentum has reignited investor optimism, positioning Solana as a standout in the crypto market. Key metrics from Glassnode further bolster this sentiment, revealing that Solana has consistently maintained a positive net capital inflow since early September 2023. While minor outflows were observed, the overall trend underscores sustained interest and confidence in the project. Related Reading: XRP Whales Keep Buying – Data Reveals Smart....
The general crypto market has seen a decline in the last week, with most assets recording significant losses. Solana (SOL), one of the most prominent cryptocurrencies, is down by 11.50% in the last seven days and 16.17% in the last month. Interestingly, popular crypto analyst, Benjamin Cowen has posted a puzzling prediction on Solana, drawing much similarity between the token’s current price movement and historical price data of fellow altcoin Cardano (ADA). SOL To Close 2023 With Losses? According to an X post on August 23, Benjamin Cowem believes Solana’s price movement might be....