Ethereum

Token

Solana

Bitcoin

<p style="text-align: justify">According to the reports from popular analytics firm Santiment, the price surge of SOL resulted from the <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">market</a>‘s acceptance that the token does not need a strong correlation with <a href="https://en.coin-turk.com/bitcoins-ride-of-uncertainty-peaks-drops-and-whale-interests/" data-wpel-link="internal">Bitcoin</a> (<a href="https://en.coin-turk.com/bitcoins-resurgence-and-render-tokens-striking-rise-a-snapshot-of-the-cryptocurrency-market/" data-wpel-link="internal">BTC</a>) or Ethereum (ETH). As a result, discussions around Solana, as evidenced by social dominance, continue to reach new highs. Similarly, the funding rate has also increased, indicating an increased bullish sentiment among investors.</p> 
<h2 id="santiment-s-report-on-solana">Santiment’s Report on Solana</h2> 
<p style="text-align: justify">The combination of increased social dominance and funding rates may indicate that a cryptocurrency’s price has reached a local peak. Often, this can also mean a slowdown in buying orders. However, Solana seems to be breaking this rule. Chain data from Santiment supports the idea that SOL is in a bullish opportunity zone.</p> 
<p style="text-align: justify">Furthermore, experts have analyzed the trading volume to determine if it is still the right time to buy SOL. According to Token Terminal data, Solana’s trading volume was around $1.48 billion at the time of writing. The value of the trading volume, like price movement, represents an 18.29% increase in the last 24 hours. Increased volume, along with increasing prices, can indicate growing momentum.</p> 
<p><img decoding="async" class="aligncenter wp-image-275526 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/sol.png" alt="" width="827" height="326"></p> 
<h2 id="targeting-60-for-sol">Targeting $60 for SOL</h2> 
<p style="text-align: justify">According to experts, it is possible for Solana to surpass $55 and move towards $60 in the coming days. This can be possible if the volume remains the same and there is enough buying pressure to keep the price upward. Analysis of SOL’s price on the 4-hour time frame may indicate that the subunit is in price discovery mode. Price discovery, largely driven by demand and supply, can show how the value of a cryptocurrency is determined by buyers and sellers.</p> 
<p style="text-align: justify">Additionally, the 0.382 Fibonacci retracement level was around $43.44. This can indicate that the fear in the market has subsided and the price has jumped into an uptrend. Then, a strong support formed at $44.81, supported by the 0.236 Fib level. In case of a pullback in SOL, there is a high probability of finding a good buying position at or above this price. Furthermore, the relative strength index (RSI) indicated that SOL was overbought.</p> Continue Reading: <a href="https://en.coin-turk.com/solanas-price-surge-continues-what-does-the-latest-report-say/" data-wpel-link="internal">https://en.coin-turk.com/solanas-price-surge-continues-what-does-the-latest-report-say/</a>

Solana’s Price Surge Continues: What Does the Latest Report Say?

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