- In the last 30 days, the price of SOL has climbed by more than 122%.
- At the time of writing, SOL is trading at $49.42, up 6.21% in the last 24 hours.
The crypto market is now in a bullish trend, with Bitcoin trading firmly over $36,000 and altcoins enjoying huge increases. With Ethereum’s recent price increase, the cryptocurrency market as a whole has been trading in the green.
The price of Solana (SOL) increased thanks to the general upbeat mood in the crypto market and hopes for the return of the defunct FTX exchange, an early investor in the token. When asked about the FTX resurrection, Gary Gensler, chair of the United States SEC, emphasized the need to act within the law.
Significant Upswing
It’s possible that Solana (SOL) is on the cusp of a further upswing in price. The price of Solana has risen 6.21% in the last 24 hours, taking it to almost $50. Moreover, BlackRock’s application for a spot Ethereum ETF has contributed to SOL’s recent price rally.
The surge in Solana has been running strong for weeks, and in the last 30 days, the price of SOL has climbed by more than 122%. At the time of writing, SOL is trading at $49.42, up 6.21% in the last 24 hours. Moreover, the trading volume is up 89.65%.
If the price manages to go past $52.7 resistance level, then the price is likely to move towards $58.9 level. Breaking above this level, will likely see price starting a rally towards $93.6 level. On the other hand, if the price faces brief correction and goes below the $47 level then the price will likely test $45.3 support level. Further decline will likely see price testing $43.5 level.
