SOLANA PREDICTION -: is SOLANA the alt coin to buy this bull season ??? $SOL
Solana price maintains its gains despite a broader market crash. SOL could climb 7% to the $200 psychological level | tested in December 2021. A break and close below $133.80 support level would invalidate the bullish thesis. While the bullish outlook prevails in the cryptocurrency market, the journey has been tumultuous since the fourth quarter of
2023. Bitcoin (BTC) price has led the volatility with altcoins following close behind. Through it all, however, Solana has been the outlier, resisting the trends and forging a path for itself. Also Read: Solana-based MYRO is an outlier, soars almost 70% despite meme coins crashing Solana shows resilience despite market crash Solana has made headlines many times since Q4 of 2023, riding on multiple themes starting with its contention against Ethereum. Solanas competitive edge over Ethereum was the low transaction fee which made SOL dominate major Ethereum Virtual Machine (EVM) chains for daily decentralized exchange (DEX) traders.
The narrative eventually transitioned to meme coins on the Solana blockchain, because it became the base atop which multiple projects were built. Myro (MYRO), Bonk Inu (BONK) and Dogwifhat (WIF) are among the meme coins that made the trend on Solana, making it impossible to ignore SOL. With these two fundamentals, the whole Solana ecosystem has found itself trending on DEX Screener. For the layperson, this means that SOL is experiencing a significant level of trading activity or price movement relative to other assets listed on the DEX. With such elevated market interest and attention, the network is bound 2 experience more active participation from traders and investors. This could influence Solana price as well as broader market dynamics. SOL on DEX Screener
Solana weighted funding rate drops Data according to Coinglass shows a significant drop in the weighted funding rate of Solana, moving from $191 to around $145 between March 11 and 15. This drop indicates that the overall cost of funding long