In spite of the upheavals in the market, Solana’s prices have rallied and gained back 60%. Solana experienced a massive sell-off two weeks ago on June 14th. The crypto’s RSI is gaining ground and looks like it will go up thanks to bull market support.
Analysts predict that the crypto’s price uptick could surprise the bulls who are not paying too much attention to it. This is a sign of retaliation which could prove beneficial, especially if the bears don’t act. It has been quite a surprise that Solana is doing well after the sell off. This was chalked up to losses in the liquidity pool and other issues. Ever since the dip, the bull rally has pushed up prices and Solana is currently trading at a price of $40.60. This is a good indication that the bears may get a jolt as the bull market rallies to push the price to even $55 under the current market conditions.
Traders who are looking to participate in the upward trend can do so after the low of $25.86 two weeks ago. If the bears prevail, they may be able to push prices back down to $18, resulting in a downtrend of at least 55% from the current high. All in all, this market activity and wild price swings are to be expected in the current market volatility. It is heartening to see that cryptos are recovering some level of their previous robustness. It is now a matter of waiting and watching – long-term market trends are looking up.
