Solana Inches Closer to $140 as Recovery Continues, Are Bulls Making a Comeback?
- Solana has factored in significant price increases over the last 7 days, after the recent crash.
- The altcoin’s daily trading volume has increased by 1.41% as per CMC data.
In the last 24 hours, the crypto market is beginning to show signs of recovery. While Bitcoin is steadying above the $80K levels, Ethereum which has not experienced bullish signs is making progress. The altcoin showed a modest upward movement and is trading above the $1500 level.
Meanwhile, one of the other leading altcoins, Solana, has experienced a full recovery in prices. SOL is heading back to its previous trading levels, resulting from consistent upward movements in the past week.
In the last 24 hours, the altcoin has factored in an additional price increase of 2.11%. This caused Solana to rise to the $133 range on its way to the $140 mark. In the evening Asian hours of April 13, SOL was trading at a low of $126.
However, with the additional increase it surpassed the $130 mark after several weeks. At the time of writing, Solana was trading at $133.18 as per CMC data. Moreover, when inferring its weekly price chart, the altcoin shows an incredible 31.55% price increase. As mentioned earlier, SOL’s recovery is quite evident from this upward movement.
Will Solana Bulls Continue to Dominate?
On analyzing its technical indicators, Solana’s bull power indicator value stands at 3.39. Meanwhile, its bear power indicator value stands at a low of -4.17. This indicates the overall bearish trend caused by previous market crashes. However, if the bulls continue to persist, then it might soon overpower the bearish trend.
On the other hand, its RSI value stands at 54.70 as per TradingView data. This suggests a neutral market sentiment and positive investor interests. Hence it can be stated that if the positive momentum sustains for the coming days, Solana holds the potential to exhibit a bullish trend.
Meanwhile, other altcoins such as Flare, and Helium have shown positive movements in the past 24 hours.
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Solana Inches Closer to $140 as Recovery Continues, Are Bulls Making a Comeback?
- Solana has factored in significant price increases over the last 7 days, after the recent crash.
- The altcoin’s daily trading volume has increased by 1.41% as per CMC data.
In the last 24 hours, the crypto market is beginning to show signs of recovery. While Bitcoin is steadying above the $80K levels, Ethereum which has not experienced bullish signs is making progress. The altcoin showed a modest upward movement and is trading above the $1500 level.
Meanwhile, one of the other leading altcoins, Solana, has experienced a full recovery in prices. SOL is heading back to its previous trading levels, resulting from consistent upward movements in the past week.
In the last 24 hours, the altcoin has factored in an additional price increase of 2.11%. This caused Solana to rise to the $133 range on its way to the $140 mark. In the evening Asian hours of April 13, SOL was trading at a low of $126.
However, with the additional increase it surpassed the $130 mark after several weeks. At the time of writing, Solana was trading at $133.18 as per CMC data. Moreover, when inferring its weekly price chart, the altcoin shows an incredible 31.55% price increase. As mentioned earlier, SOL’s recovery is quite evident from this upward movement.
Will Solana Bulls Continue to Dominate?
On analyzing its technical indicators, Solana’s bull power indicator value stands at 3.39. Meanwhile, its bear power indicator value stands at a low of -4.17. This indicates the overall bearish trend caused by previous market crashes. However, if the bulls continue to persist, then it might soon overpower the bearish trend.
On the other hand, its RSI value stands at 54.70 as per TradingView data. This suggests a neutral market sentiment and positive investor interests. Hence it can be stated that if the positive momentum sustains for the coming days, Solana holds the potential to exhibit a bullish trend.
Meanwhile, other altcoins such as Flare, and Helium have shown positive movements in the past 24 hours.
Read More