Will SOL Recover To $25 In Coming Days? – Crypto News – Crypto News
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Will SOL Recover To $25 In Coming Days? – Crypto News

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3 years ago

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Solana (SOL) Price news: The latest SOL price pump invigorated the traders who saw huge unrealized losses due to the FTX collapse. With the ftx related liquidity crisis in November, the coin’s price has been on a steady downward trend. Due to the cryptocurrency’s affiliation with the Sam Bankman-Fried ecosystem, the SOL price suffered a major blow. In context of the negative sentiment seen around the cryptocurrency last month, the recovery is quite surprising and unexpected.

Also Read: Nearly $12 Billion Vanishes From Binance’s Assets; What’s Going On?

Solana Price Recovery

While the overall trend is currently bullish for the cryptocurrency, it remains to be seen if there will be another rally in the near term. The Bollinger Bands indicator suggests the possibility of a rapid Solana rally in the short term. This means the recent price recovery could act as a precursor to another quick pump. Also, the moving average convergence or divergence (MACD) points to a growing bullish momentum for the cryptocurrency.

The $18.10 mark was seen as the next resistance level if the SOL price breached the $15 mark. Although the milestone was breached all the way above $17, it failed to reach $18. As of writing, SOL price stands at $16.23, down 0.54% in the last 24 hours. CoinGape price tracker,

Also Read: Grayscale Bitcoin Trust (GBTC) Jumps 12% In A Relief Rally, Will It Sustain?

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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