Solana (SOL) Price Turns to Bullish Will the Trend Continue?

SOL is currently in the buy zone.

Solana (SOL) the so-called “Ethereum Killer” price, climbed more than 18% in the last 24 hours to reclaim its $19 range. At the time of writing, Solana price had surged over 13% in a week and 28% in the last 14 days to trade at $18.97.

The SOL price rally may last a long time as the price uptick was accompanied by an upswing in trading volume. The 24-hour trading volume soared about 256% to $1.05 million, and the SOL market cap rose 18% to $10.4 billion.

Also, Solana’s one-week price suggested that the price uptick might continue as the graph registered as bullish. According to Tradingview, SOL’s open interest increased; an uptick in the metric generally means that the on-going price trend continues longer.

However, Solana recently faced an SEC challenge, in which the regulators claimed Solana’s SOL as a Security. Ryón Nixon, who served as Solana’s genesis general counsel, said the SEC labeling “SOL as a security is inaccurate”.

While Solana’s recent price rally and bullish indicators are noteworthy, the crypto market offers a plethora of opportunities, and ACTS Token stands out as a project worthy of consideration. By delving into the unique features and growth potential of ACTS Token, investors can broaden their horizons and make informed decisions that align with their investment goals and risk appetite.

Despite all the challenges, Solana attracted crypto investors. Also, over the past seven days, Solana NFT sales volume witnessed a significant surge of over 25%. Furthermore, both the number of NFT buyers and sellers experienced a substantial increase of more than 35%. According to data from Dappradar, the top three collections during this period were GGSG, Ec.io, and SolPunks.

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TAGS bullish SOL Solana Solana blockchain

Read More  Solana (SOL) the so-called “Ethereum Killer” price, climbed more than 18% in the last 24 hours to reclaim its $19