Solana Experiences a 5.57% Rally in Past 24-hours
Solana (SOL) community can finally have peace of mind after such a long time because it is exhibiting a positive trend. The data shows that in the past 24-hours, Solana’s price has been boosted by the strong acquisition power of the bulls.
At present, the bulls are trying their best to continue with the strong buying spree and keep pushing the price of Solana to higher milestones.
Solana’s 5.57% Rally
On March 25, the value of Solana was at a low of $100 per SOL and that is when the bulls launched their strong buying counter against the bears. The bulls attacked the bears with a 5.57% march, which has made its mark on Solana’s performance chart.
Due to the strong rally, the price of Solana has moved up from the $100 benchmark and at the time of writing, Solana is worth $132.91 per SOL. The trading volume has also started growing given the recent rally that has the investors trading it at a high level. So far, the trading volume for Solana has matured by 13.63%, and the growth is for the past 24-hours.
Market Sentiments are Bullish for Solana
Due to the strong rally, Solana has become one of the most traded cryptocurrencies. As a result, its demand has surged, and so has its valuation. Therefore, the sentiments of the market are mainly bullish about Solana. The investors are eager to acquire Solana at a high rate, and TradingView’s summary scale for Solana is confirming the investors’ preference. The RSI for Solana is also at 61.33, which is again a strong indication of Solana’s price growth
Price Appreciation for Solana
The TradingView analysis for Solana suggests that due to the strong support of the technical factors, more investors may grow positive sentiments toward Solana.
This would result in pushing the price of Solana to higher values, where the first checkpoint would be $140.31 per SOL.
As the price and demand for Solana grow, more investors would rush to its bullish side. Such sentiments would again work in favor of Solana’s price surge, bringing it up to $156.37 per SOL.
The bulls may not want to end their journey at $156.37 as they may have a higher target in their mind. Therefore, they may continue compelling the investors to move to their side with strong buying sentiments. This would result in pushing the price of Solana to a higher mark.
However, hitting the third major spot wouldn’t be easy for the bulls as they bears may defend it with all their might. Therefore, the bulls will have to bringing in more firepower in the form of neutral investors turning bullish. If they manage to bring them to their side, the Solana’s price may rise to $166.34 per SOL.
