The bullish rally of cryptocurrencies in the last 24 hours has attracted the attention of traders. In this speech, we will predict the price of Solana and the future of this cryptocurrency.
Solana (SOL) price in the last 24 hours approx 1.4 percent decrease has been found SOL corrected the price after the upward rally of cryptocurrencies. At the time of writing, each Solana token is trading at $31.11. SOL is up about 3% over the past week.
Read more: Upward rally of cryptocurrencies; Is the bear market ending?
Solana price prediction
The total value of the digital currency market has grown by nearly 5% in the past 24 hours, surpassing $1 trillion. During this time, many altcoins performed well. Ethereum also had double-digit gains.
Solana could not perform as well as other cryptocurrencies. The price of this cryptocurrency is in the range 30-32 dollars It fluctuates. This is indicative Low volume of Solana transactionsset. The trend created in the Solana chart is different from what is seen in most cryptocurrencies on the market.
Solana’s trading volume in the last 24 hours was about 1.44 billion dollars. This represents a 42% growth compared to the previous day. Solana’s current volume is normal. Traders are likely to be interested in this cryptocurrency again.
88% fall of Solana
Solana currently has a market cap of more than 11 billion dollars. The ninth digital currency of the market Are. If Solana can mimic the performance of other cryptocurrencies in the market, it will have the ability to reach higher price levels.
The SOL token started a strong upward rally in November last year. The price of Solana at that time reached the level of 259 dollars. With the beginning of the downward trend of the digital currency market, this token has decreased by about 88% from the mentioned levels.
Solana price prediction with technical indicators
Suitable tools for predicting the price of Solana include: Technical analysis indicators Cited. Technical indicators show that SOL could start a new uptrend. Solana is currently in the overbought zone of the RSI indicator. This indicates the possibility of an upward trend.
The moving average movements (MACD) show that the trend of Solana token is bullish. The McD line is above the signal line. This issue can be attributed to Solana’s slight growth following the digital currency rally.
Solana could make another move towards the $50 area if the cryptocurrency’s uptrend continues. Current cryptocurrency market movements are unpredictable. It is possible that the crypto winter will begin again. If the downtrend is strong enough, Solana will fall below $30.
What do you think about Solana price prediction? Will Solana succeed in breaking the $50 resistance zone? Please leave your comments in the comments section duplicate share it.