Solana has been experiencing an uptrend in the past 7-days and the past 24-hour situation has gone on to support the uptrend as well. Therefore, the investors have been looking forward to increasing their holdings in Solana in the upcoming days to generate high gains.
Still, the cryptocurrency investment community is not going all out investing in Solana. This is because they are all cautious about the situation of the cryptocurrency industry turning bearish at any time. If that happens, the price of Solana may also move into the bearish zone.
The past 7-Day Situation of Solana
In the past 7-days, the lowest price Solana recorded was $97.32 per SOL and for the past 24-hours, the lowest price it observed was $119.49 per SOL.
This means that the past 24-hours have proven to be more bullish for Solana than being bearish. Even the past 24-hour analysis shows that the price of Solana has experienced a 2.43% surge and at the time of writing, it is at $124.71 per SOL.
The trading volume for Solana has also experienced a 5.87% surge in the past 24-hours. The 24h trading volume being exhibited for Solana is worth $4,165,301,326.
Technical Indicators Point towards “Buy” Sentiments
At present, the summary scale for Solana is pointing towards “buy” sentiments. Out of the total investors, 62.8% of investors are willing to buy Solana and only 23% of the total investors are willing to sell it.
The moving averages and the oscillators for Solana are also giving an indication of a buying trend. As for the RSI, it is currently at 71.33 and the ultimate oscillator is at 51.4, which is a strong indication of the bullish trend.
If the bulls keep going for higher gains for Solana, its price may swell to $131.55 per SOL. Going forward, the acquiring power of the bulls may elevate, bringing Solana up to $145.96 per SOL. If the benefits of the investors continue rising with strong investments, then they may keep pouring more money into the cause. This would result in pushing the price of Solana all the way up to $158.85 per SOL.
When it comes to the bearish sentiments, if the bears drag Solana below the $124.71 per SOL price, they may pull it below $120 per SOL. If the trend continues turning more bearish, then the price of Solana may come all the way down to $108.66 per SOL. However, the bears may try another time to see if they can lower the confidence of the bulls even more. This time, they may try and pull the price of Solana down to $101.30 per SOL.