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Solana (SOL) Price Turns to Bullish Will the Trend Continue?

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Solana (SOL), Crypto news, Solana price

Solana (SOL), Crypto news, Solana price

  • Solana (SOL) price sored over 18% in the last 24 hours.
  • SOL is currently in the buy zone.

Solana (SOL) the so-called “Ethereum Killer” price, climbed more than 18% in the last 24 hours to reclaim its $19 range. At the time of writing, Solana price had surged over 13% in a week and 28% in the last 14 days to trade at $18.97.

The SOL price rally may last a long time as the price uptick was accompanied by an upswing in trading volume. The 24-hour trading volume soared about 256% to $1.05 million, and the SOL market cap rose 18% to $10.4 billion.

Also, Solana’s one-week price suggested that the price uptick might continue as the graph registered as bullish. According to Tradingview, SOL’s open interest increased; an uptick in the metric generally means that the on-going price trend continues longer.

Solana (SOL) Price Chart (Source: Tradingview)

However, Solana recently faced an SEC challenge, in which the regulators claimed Solana’s SOL as a Security. Ryón Nixon, who served as Solana’s genesis general counsel, said the SEC labeling “SOL as a security is inaccurate”.

Despite all the challenges, Solana attracted crypto investors. Also, over the past seven days, Solana NFT sales volume witnessed a significant surge of over 25%. Furthermore, both the number of NFT buyers and sellers experienced a substantial increase of more than 35%. According to data from Dappradar, the top three collections during this period were GGSG, Ec.io, and SolPunks.

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