SOLANA CONTINOUS THE PRICE MOMENTUM, IS A BULLISH RALLY AHEAD ?

 

SOL’s recent price trend shows a significant jump at the beginning of the week on 23rd January, with a nearly 5.3% increment in its price, as per data from CMC. Since the start of the previous year, Solana has been experiencing massive growth in its ecosystem which is boosting its native token $SOL’s price and has recorded a 310% growth since Feb 2023 to date.

Additionally, the recent days of uptrends have positively impacted $SOL’s Relative Strength Index, positioning it on the neutral line as of the current analysis, which suggests that the bear trend is getting weak as the price undergoes a recovery since its ATH in 2021.

Solana Foundation and its tokens have gained attention, particularly due to their performance in the NFT space and meme tokens that are trending nowadays like BONK etc. In addition, it is Noteworthy that the funding rate has consistently remained positive. This shows that buyers continue to dominate, with a less aggressive stance. At the time of writing this article, the Open Interest is recorded at around $1.2 billion, suggesting a relatively stable situation in this aspect of the market.

At the time of writing this article, $SOL is trading at around $98.25 and ranks #5 in total market capitalization of $42.6 Billion and is up by 6.65% in the last 24 hours.

 

SOL's recent price trend shows a significant jump at the beginning of the week on 23rd January, with a nearly 5.3% increment in its price, as per data from CMC. Since the start of the previous year, Solana has been experiencing massive growth in its ecosystem which is boosting its native token $SOL's price and has recorded a 310% growth since Feb 2023 to date.

Additionally, the recent days of uptrends have positively impacted $SOL's Relative Strength Index, positioning it on the neutral line as of the current analysis, which suggests that the bear trend is getting weak as the price undergoes a recovery since its ATH in 2021.

Solana Foundation and its tokens have gained attention, particularly due to their performance in the NFT space and meme tokens that are trending nowadays like BONK etc. In addition, it is Noteworthy that the funding rate has consistently remained positive. This shows that buyers continue to dominate, with a less aggressive stance. At the time of writing this article, the Open Interest is recorded at around $1.2 billion, suggesting a relatively stable situation in this aspect of the market.

At the time of writing this article, $SOL is trading at around $98.25 and ranks #5 in total market capitalization of $42.6 Billion and is up by 6.65% in the last 24 hours.

, SOLANA CONTINOUS THE PRICE MOMENTUM, IS A BULLISH RALLY AHEAD ?

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