In the past two weeks, Solana has had a jump of 40%. SOL current price gain is happening amidst an increased trading volume of almost 20% over the last 24hrs.
After hitting the 2022 lowest price, the support level at $77.69 on February 24, Solana bulls seem to have come back as in the early hours today, Solana price climbed towards $122 with a gain of 5%. At the time of reporting Solana has slightly slipped down as its trading at $111.2 with a decrease of 0.24% in the last 24hrs.
Solana started experiencing the bullish trend on March 15 and it has gained more than 40% in its value. The daily chart below depicts the daily prices heading towards a resistance level of $122.
Investors are continuing to book profit and with this action, there are high chances that Solana might be pulled back towards its support level at $102.34 and if the currency gets pulled even further, the price might also drop to the $92.35 support level. Through buyers making a comeback, we could see SOL with a bullish moment, the chances for this to happen are very rare.
If the bulls manage to push Solana upward, the price will have a resistance barrier at $136. But if Bitcoin sees a bearish pull, then there is a high chance that major altcoins, along with Solana, will take a downward turn.
OpenSea To Support Solana NFTs!
The current bullish cycle also points towards a retracement before the next breakout. This is happening especially after one of the biggest NFT platforms, OpenSea announced support for Solana NFTs.
OpenSea which is popularly known for Ethereum based NFTs, now with the inclusion of Solana NFTs into the platform, makes SOL the fourth Blockchain to receive support after Polygon and Katyln.