Key Notes
- Solana jumps nearly 10% in 24 hours, trading around $145.
- Technical indicators hint at a potential breakout to $160.
- Market cap hits $76.88B as trading volume spikes 29.86%.
Solana SOL $144.2 24h volatility: 1.9% Market cap: $76.60 B Vol. 24h: $5.43 B may have finally broken out of its recent downtrend, following an almost 10% increase in market value over the past 24 hours.
The coin rose from $128.34 to a high of $145, and current technical indicators suggest that SOL could be on track to reach $161 in the mid-term.
Solana Price May Extend Positive Momentum
Between June 16 and 23, Solana went on a downtrend, facilitated by several unhealthy market conditions, including geopolitical tensions in the Middle East. The coin, which was previously trading at $157.84, dropped to a low of $128.34 during this period.
However, SOL has now shown signs of recovery. At press time, it was trading at $144.70, marking a 7.91% increase over the past 24 hours.
Other key metrics also appear strong, with SOL’s market capitalization standing at $76.88 billion and trading volume reaching $6.11 billion, a 29.86% increase in the last 24 hours. If this upward momentum continues, SOL could break through to a new local high in the coming days.
The coin first broke out of a descending channel before inching towards a high price. Judging from on-chain charts, Solana’s MACD has flashed a bullish crossover. Also, its 12-period Exponential Moving Average (EMA) has exceeded the 26-period EMA.
This suggests that buyers are taking control from sellers, a momentum that, if sustained, could lead to a further price rally for Solana.
When the value of SOL dropped to $131.93 on June 22, the coin had just slipped below its realized price of $132.35.
Solana Daily Price Chart | Source: TradingView
Given the current shift in sentiment and technical setup, Solana’s price may soon break above the 20-period Exponential Moving Average (EMA). The rising Relative Strength Index (RSI) also signals growing bullish momentum.
Supporting this optimism, Everything Blockchain recently announced plans to deploy $10 million into Solana and other top cryptocurrencies, aiming to leverage the growing momentum and adoption of these leading altcoins.
BTC BULL Token Presale Continues as SOL Recovers
While the SOL price continues to struggle for support, retail buyers are seeking out Bitcoin BULL presale.
BTC BULL is a meme-powered, community-driven crypto that rewards holders with real Bitcoin, especially when the flagship cryptocurrency hits key price milestones.
It is focused on fusing the viral appeal of meme coins with tangible incentives tied to the performance of Bitcoin.
Once Bitcoin price jumps another $25,000, the project either burns a percentage of the $BTC BULL token supply, or airdrops BTC to token holders
Current Presale Stats:
- Current Price: $0.00258
- Amount Raised So Far: $7.3 million
- Ticker: $BTCBULL
- Total BTCBULL Supply: 21M tokens
BTC Bull has a registered and verified issuer, which adds legitimacy to the presale. If you’re interested, there are only 5 days left to buy the token before its price increases.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
