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Solana Price Analysis: Bulls Push The SOL Values Higher

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SOLANA

Today’s Solana price is $38.66 with a 24-hour trading volume of $13,375,184,399. Solana is up 4.98% in the last 24 hours. The trading volumes have increased over the past day due to increased investor activities. The Volume to Market Cap ratio stands at 0.1152 for the altcoin.

The Crypto sector is currently stuck between the two extremes –high risk and volatility and a period of high expectations. The crypto sector has started to move positively and is enjoying a period of buoyant activity.

Positive Market sentiment Helps Solana Price Rise

SOL values are surging, and the recent optimism has rubbed on the altcoins also, and it could result in SOL breaching the trend line resistance, which happens to be at $36 and set to naught all forms of bearish sentiments.

Source: SOL/USD by TradingView

The SOL values seem to be in a state of infancy and, despite the uptrend, are still below 20, 50 SMA on the four-hour chart. Therefore the proper support lies at the other end of the spectrum i.e. $30, and the bullish momentum is represented by altcoins trading below the 20, 50 SMA on the four charts

Source: SOL/USD by TradingView

RSI, or the Relative Strength Index for Solana, has been surging steeply for the past few days and is presently steady at 44.25. It is indicative that buyers are active and have been piling into the crypto and pushing the SOL Coin Price higher. The green histograms have become smaller on the daily MACD chart, whereas the MACD and signal lines continue transacting in the negative zone.

Conclusion

The SOL Coin price chart makes it pretty clear that SOL will continue to make big progress and remain in the green in the ongoing session. If buyers can strengthen their position, we can see the altcoins surging still higher.

Looking at the SOL Coin price chart, we can see that the altcoin continues to take giant strides and remains in the green during the ongoing session. If buyers can consolidate the control of the session, we could see Solana’s Price rise even further.