Solana has been experiencing significant fluctuations, with its value dancing around the $26 resistance level according to the analysis shared by Davidoncrypto.
Some market observers have noted that Solana’s weekly closure fell below this resistance point. This has led to speculation that the cryptocurrency might retest the $20 mark in the short term. However, the overall plan for the coming weeks remains unchanged, with many in the community still holding a bullish outlook.
This potential dip to $20 is seen as a golden opportunity for investors. They argue that buying at this level could yield significant returns, especially considering Solana’s strong fundamentals and the bullish outlook held by many in the community.
Despite the recent pullback, Solana has shown remarkable resilience. It has managed to maintain an impressive +96% increase from its low point during the Gensler FUD (Fear, Uncertainty, and Doubt) period. This resilience is a testament to the strength of Solana’s market position and the faith of its investors. The analysis by David also shows that SOL is likely to hit $130 during the next bull run.
The upcoming weekly close will be a significant event for Solana. Many are hoping to see the digital currency close well above the $26 mark, which would signal a positive trend for the cryptocurrency.
As of the latest data, the current price of Solana ($SOL) is $23.49. The cryptocurrency has experienced a 24-hour trading volume of $368,725,639. Solana’s market cap stands at approximately $9,497,687,611, making it the 9th ranked cryptocurrency on CoinMarketCap. The circulating supply of Solana is 404,258,961 SOL coins.
