Solana (SOL) may be poised for another price rally in the coming days following a recent recovery. Although SOL remains within a consolidation phase, recent price movements suggest the potential for a more sustained uptrend. Key metrics and indicators are turning bullish, boosting tradersâ confidence.
According to CoinGlass, SOLâs trading volume has surged by 98.87% in the past 24 hours. This significant spike highlights a dramatic increase in trading activity, with the current volume reaching $6.75 billion. This surge reflects growing positive sentiment among traders, who are becoming increasingly optimistic about SOLâs future prospects.
The rise in Solanaâs volume is evident across major cryptocurrency exchanges. Binance leads the way with $2.62 billion in volume, followed by Bybit at $1.50 billion, OKX at $1.09 billion, BingX at $549.50 million, and Bitget at $167.83 million. These numbers indicate increasing confidence in SOL, suggesting that further gains could be on the horizon.
Whatâs Happening with Solanaâs Price?
At the time of writing, SOL is trading at $144.09, reflecting a slight 0.74% dip over the last 24 hours. However, the coin has gained 10.03% over the past week as part of a broader market recovery. Solanaâs price surged from $127.46 to a high of $149.91, marking a significant rise.
After encountering resistance at the $150 level, SOL has since corrected to $144.09. Despite this pullback, the recent performance of SOL remains impressive. With trading volume increasing and investor sentiment strengthening, Solana could be targeting its next resistance level, and it may break through this time.
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