Solana Is Up 520% In 1 Year: Why Is This Metric Worrying For Bulls?
Solana (SOL) has been soaring, looking at the performance in the daily chart. At spot rates, the coin is trading above $50, up 520% in the past year when it slipped below $8 following the collapse of FTX, a now-defunct crypto exchange, and Alameda Research, a trading wing linked with FTX and one of the leading crypto market makers. Solana Blistering Rally At The Back Of Dropping Liquidity? Though Solana is “blistering” and at new 2023 highs, Kaiko, a crypto analytics platform, is concerned about the disparity in liquidity in USD and “native unit” terms. Typically,....
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Bulls pushed back and momentarily halted the increasing selling pressure impacting Cardano, Solana, and Ethereum. The altcoin market has been stabilizing over the last day, but fresh data points to potential issues in the short term. Related Reading: Standard Chartered Says Ethereum Price Can Reach $35,000, Here’s When As of this writing, Cardano (ADA) trades at $0.23 with sideways movement in the past day. Solana and Ethereum recorded similar price action over this period, but these assets have been slowly bleeding into support on the weekly chart. Cardano, Solana, And Altcoins Could Get....
Raoul Pal, the founder of Real Vision and one of crypto frequent commentators, thinks SOL, the native currency of Solana, a smart contract platform, has “been extremely bullish all year.” In Pal’s assessment, the coin will likely double in the next few sessions, especially if there is a welcomed breakout above the immediate liquidation level. Taking to X on October 20, the founder noted that SOL has rallied by 171% in 2023 alone. At the same time, looking at technical candlestick arrangements, the immediate resistance level that traders should watch out for is $30. This....
Solana price action indicates that bulls are attempting to regain the market. SOL prices begin the daily trading chart in a horizontal trend. As the market encounters resistance at the $100.5 level, solana prices are trading close to $100. Bulls will attempt to drive prices higher in order to reclaim the $101 level. If prices can be pushed below $99.5, the bears will be able to take control of the market. In the previous 12 hours, Solana prices have fluctuated between $97.10 and $100.54, with the cryptocurrency gaining 0.11%. Solana Recovers Above $100 As the cryptocurrency trades near to....
The bulls have painted the market green, with most cryptocurrencies scoring impressive price gains in the last 24 hours. The ongoing market-wide rally has empowered most coins to recover their lost price gains, with Bitcoin adding over 6.57% in seven days. However, among the top coins, Solana scored the most gains, rallying over 10% in the last 24 hours. The gain places Solana (SOL) at the 10th position among top-gaining cryptocurrencies today. Solana’s current price rally comes after three consecutive days of price decline. Solana Price Action Over The Past Weeks Solana (SOL) performed....
Solana price has attempted to revisit the $44 price mark again and it is a matter of time till the coin displays its next move. Over the last week the coin rose by 14% and in the past one day there has been a close to 3% increase in market value. The coin has demonstrated steady recovery in the last 24 hours. At the moment bullish force has built up considerably in the market and it could push price of SOL higher with sustained demand. Technical outlook for the coin remained positive at the time of writing. Solana price previously in the past had not managed to break past the $44 price....