Is It Too Late To Buy SOL? Solana Price Surges 13% In A Week And This Might Be The Next Crypto To Explode
The Solana price surged 13% in the last week and 5% in the last 24 hours to trade at $174.52 as of 00:17 a.m. EST on trading volume that rose 24% to $4.15 billion. Solana Price Aims For A Continued Price Rally The Solana price action forms an ascending channel, generally indicating a bullish trend. According to data from GeckoTerminal , the price has been making higher highs and higher lows, respecting the upper and lower boundaries of the channel, as the bulls continue to capitalize on the $136 support zone. SOL is trading near the upper boundary, suggesting it could be nearing a potential resistance area within the channel. The recent uptrend has pushed the price of Solana to trade above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the current bullish movement. Moreover, the Relative Strength Index (RSI) is currently at 71.26, which indicates that the asset is in overbought territory (typically above 70). This suggests the market may be overextended, and...