The approval of a spot Ethereum exchange-traded fund (ETF) in the United States has greatly stimulated the enthusiasm in the cryptocurrency space and marks a key step in cryptocurrency regulation.
Recent research reports released by different analysts indicate that the Solana ETF may be next, indicating that other cryptocurrencies may receive similar regulatory treatment. Moreover, this has aroused the curiosity of investors and traders.
Solana Cryptocurrency Price and Volume Rising, Santiment’s volume and price charts show that the volume has increased in the past few days and the price has also increased. The price has experienced significant growth in recent days. Therefore, the price may rise in the long run.
Since the beginning of May, the price and volume have continued to rise, showing a bullish trend
Solana Cryptocurrency Social Dominance and Social Volume, Social dominance and social volume have been trending downwards in the past few months, which has a negative impact on the price. In addition, Solana’s price momentum may be affected by the shift in social dominance and volume dominance.
If the social indicators of the coin rise in the coming week, it may have a positive impact on the price.
SOL is in a bullish phase. The coin has been staying above important moving averages and continues to extend its gains. It recently experienced a “golden cross” and has significantly risen by more than 20% this month, reflecting a strong bullish trend.
Solana’s cryptocurrency price broke through the major trendline and started a sharp rise from the lower support and rushed towards the higher resistance. The price of the SOL token has been trending upwards and is trading above the 50-day and 200-day moving averages, indicating bullish sentiment.
Solana’s cryptocurrency price received a lot of buying interest and strong support from buyers at the $126 support level. This led to a 50% surge in the price to $189, indicating that buyers are currently dominating the market.
At the time of writing, Solana’s cryptocurrency (SOL) is priced at $166.95, down 1.39% intraday, but bullish sentiment is still visible on the charts. Its monthly return is 19%, annual return is 66%, and the market capitalization is $76.08 million. Analysts are optimistic about the future price trend of SOL and expect further gains in the futures trading day.
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