Solana Price While billionaire Arthur Hayes says this other project will surpass Solana
SOL's momentum has declined significantly over the past week, although the upside to this is that it appears to be close to the bottom.
Its RSI (purple) dropped from near 80 last night to near 30 today, while it had been near or below 50 for most of the previous week.
Source: TradingView The currency's 30-day average (orange) has been below the 200-day average (blue) for nearly two weeks, falling again today.
However, now is arguably a good time to buy SOL, given how heavily the market has sold off on it, and given that it looks set for a rebound.
One small but encouraging sign is that its trading volume has risen from a price of just over $1 billion a day ago to $1.5 billion today.
This may be related to a large purchase by a whale, as SOL remains the second most popular altcoin (after ETH) among digital funds, according to the latest CoinShares data.
This highlights Solana's continued appeal, and with Ethereum poised to launch several ETFs in the US, Solana may be next.