LIVESolana ($SOL) showcased resilience as it rebounded off the 20-day EMA ($66) on Dec. 13, securing a breakthrough above the $78 resistance on Dec. 15. If this momentum endures, the SOL/USDT pair has the potential to surge to the psychological milestone of $100.
Despite the bullish advantage signalled by the upward-trending moving averages, a note of caution arises from the negative divergence on the RSI, suggesting a potential weakening of the bullish momentum. The pivotal support to monitor on the downside remains the 20-day EMA, with a break below potentially triggering stop losses for short-term traders and initiating a pullback to the 50-day SMA ($55).
As of today, Solana (SOL) is valued at $73.33, reflecting a 0.40% increase in the last 24 hours, and a marginal -0.40% decline over the past 7 days.
For those looking to acquire Solana, popular options include trading SOL tokens on centralized crypto exchanges, with Binance being a standout choice. The SOL/USDT pair on Binance recorded a trading volume of $371,382,586 within the last 24 hours. Other reputable platforms for Solana trading include MEXC and Kraken.
The trading volume for Solana (SOL) in the past 24 hours is $1,668,748,196, marking a -40.70% decrease from the previous day and indicating a recent dip in market activity.
While Solana's all-time high of $259.96 was attained about two years ago on Nov 06, 2021, the current price is positioned at -71.80% below this peak. In contrast, the all-time low of $0.500801 on May 11, 2020, over three years ago, reflects an impressive 14,548.60% increase in the current price.
As of now, Solana (SOL) holds a market capitalization of $31,382,822,405, securing the #6 position on CoinGecko, calculated by multiplying the token price with the circulating supply of Solana tokens available for trading.
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