IITMIND: EdTech, Finance and Crypto currencies


Solana has started gaining momentum and has surged over 30% during the past week. What developments are leading this rally? Can it reclaim a marketcap of $10 Billion?

The Crypto market is indicating a bullish trend since the start of 2023, but Solana has seen a massive jump in its price. Surging over 30% during the past week, Solana has become a hot topic among traders. The token is popularly known because of its less transaction fees and higher transaction processing speeds (Thousands of Transactions per second).

The Token saw a massive downfall in its price after the collapse of the crypto exchange FTX. Solana even dropped to $8.25, the lowest seen in 2022. Meanwhile, the token was rejected at $22, which could mean that bears may be able to test the resistance level that helped SOL reach its peak price. Following the current uncertainty among the global markets, Solana is seen to trade at the $18 and $16 supports.

If the upcoming days go in favor of bulls, Solana could break the $25 support level or might can even see a new bullish rally to go beyond $30. Solana has gained confidence among traders due to its recent on-chain developments and the support from the community and developers. It will be interesting to see how it gonna rebuild its ecosystem and led a massive bullish rally in the upcoming days. As of now, at the time of writing this article, Solana is trading at $21.4 and has a marketcap of $7.95 Billion.

>> Disclaimer:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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