Huge Relief for Solana Investors as Price Rise Likely After a Long Bearish Period

Solana’s price has been decreasing for a long time; its price witnessed a 27% decrease from $48.37 to $35. However, the current market is stable, and SOL has entered a consolidation phase that might lead to a price surge. Investors are optimistic despite no indication of an immediate price rise. Fxstreet reports that SOL might witness a 15% surge; to $40.39. Various cryptocurrencies have seen a bearish last two weeks, and the prices have declined rapidly. Despite Solana’s current price stability, investors must wait for the price to break through the existing barrier.

Investors can benefit in the short run

The arrival of a bullish market scenario will highly benefit investors in the short term. Solana’s steep price rise will offer huge returns. Fxstreet reports that the volume profile represents the point of control at $40.39; the point of control defines the highest volume traded level for a cryptocurrency. Solana will face resistance at $40.39 before a possible 15% surge; the cryptocurrency’s buying pressure must be strong enough to flip the resistance level to rise towards the $45 mark. Failing to break through the present resistance level will return the price to $31.75. The Solana market might be eventful in the short term and will test investors’ patience.

The crypto market has struggled a lot

The current events led to turmoil throughout the crypto community; traders’ hopes crashed after a market crash following stringent market policies and a high global inflation rate. Various investors preferred to sell their holdings in the past, leading to a price crash. However, the consolidation phase has ensured that the market holds still and interests the investors. The volatility of the crypto market also plays a vital role in the currency’s market trend.