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Has Solana (SOL) Hit Cycle Top? Sudden Reversal Spotted
The post Has Solana (SOL) Hit Cycle Top? Sudden Reversal Spotted appeared on BitcoinEthereumNews.com. Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Solana (SOL), popularly called the “Ethereum killer,” is experiencing market volatility amid the ongoing bullish run for most assets. The volatility has forced it to shed some gains, a shocking trend considering its latest momentum. Surprising dip: Temporary setback or trend change? SOL’s price, which hit $224 in earlier trading, has recorded a mild retracement and has not found a support level. As of this writing, the SOL price was trading at $208.29, down 4% in 24 hours. However, its trading volume has increased by 23.14% to $12.05 billion, fueling optimism that the setback might not last long. Related Solana’s impressive price performance in the past month has attracted investors. The asset rose by 41.39% in the last 30 days, triggering expectations that it might continue on its bullish path. Investors anticipated SOL would profit more from the bullish wind sweeping the cryptocurrency ecosystem. Interestingly, after falling below the $216 support level, it went on a free fall until it reached $210 before witnessing a rebound. SOL appears to have lost steam for a further upward climb, as the asset continues to experience wild fluctuations. This has sparked speculation among market trend observers on the asset’s future price. Some suggest that Solana appears to be cooling off, given that its trading volume has not dropped. They predict…
The post Has Solana (SOL) Hit Cycle Top? Sudden Reversal Spotted appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Solana (SOL), popularly called the “Ethereum killer,” is experiencing market volatility amid the ongoing bullish run for most assets. The volatility has forced it to shed some gains, a shocking trend considering its latest momentum. Surprising dip: Temporary setback or trend change? SOL’s price, which hit $224 in earlier trading, has recorded a mild retracement and has not found a support level. As of this writing, the SOL price was trading at $208.29, down 4% in 24 hours. However, its trading volume has increased by 23.14% to $12.05 billion, fueling optimism that the setback might not last long. Related Solana’s impressive price performance in the past month has attracted investors. The asset rose by 41.39% in the last 30 days, triggering expectations that it might continue on its bullish path. Investors anticipated SOL would profit more from the bullish wind sweeping the cryptocurrency ecosystem. Interestingly, after falling below the $216 support level, it went on a free fall until it reached $210 before witnessing a rebound. SOL appears to have lost steam for a further upward climb, as the asset continues to experience wild fluctuations. This has sparked speculation among market trend observers on the asset’s future price. Some suggest that Solana appears to be cooling off, given that its trading volume has not dropped. They predict…
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