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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-price-dynamics-and-market-outlook/" data-wpel-link="internal">Solana Price Dynamics and Market Outlook</a><br></p>
<p style="text-align: justify">After an incredible price surge last year, <a href="https://en.coin-turk.com/jupiters-record-trading-volume-and-airdrop-event/" data-wpel-link="internal">SOL</a>‘s price has retreated but later returned above the $100 mark. In the past 24 hours, the price of <a href="https://en.coin-turk.com/solana-surpasses-xrp-to-become-the-fifth-largest-cryptocurrency-by-market-cap/" data-wpel-link="internal">Solana</a> climbed back to $111 before pulling back. This situation revealed a gain of over 9% within a 24-hour period. The volatile price movements over the past week have paved the way for the price to position itself near the crucial resistance level of $110.</p> 
<h2 style="text-align: justify" id="solana-price-expectations">Solana Price Expectations</h2> 
<p style="text-align: justify">As at the end of last year, SOL continues to stand out in the cryptocurrency market with its incredible performance this year. Despite facing rejection at a horizontal resistance point on February 14, Solana’s price has been relatively stable since the final days of December 2023.</p> 
<p style="text-align: justify">As of the time of writing, with a market value of $47.67 billion, Solana ranks fifth in terms of market capitalization. On the other hand, Solana’s trading volume has seen an increase of over 36% in the last 24 hours, reaching $2.8 billion. This increase in transactions highlights the interest investors have in Solana.</p> 
<h2 style="text-align: justify" id="reflection-of-solana-s-tvl">Reflection of Solana’s TVL</h2> 
<p style="text-align: justify">Signs of recovery are emerging in Solana’s Total Value Locked (TVL). This recovery could pave the way for a return to pre-FTX crash levels.</p> 
<p style="text-align: justify">According to DefiLlama, Solana’s TVL has been steadily rising since October 2023, with significant progress noted by December 2023. SOL’s TVL started at around $350 million and reached approximately $1.4 billion by December. Meanwhile, the TVL has recently advanced to approximately $2.11 billion.</p> 
<p style="text-align: justify"><a href="https://coin-turk.com/abdli-senator-bitcoin-btc-alimi-yapti-bitcoin-bogasi-isimden-bir-adim-daha" data-wpel-link="internal">Bitcoin</a>‘s rise above the $57,000 level amid a broader cryptocurrency market has also brought significant price movements to Solana. The reclaiming of a critical support level at $107 has fueled optimism among investors.</p> 
<p style="text-align: justify">If the current price movement continues, Solana could soon surpass the $120 level and may progress towards $130 in the ongoing process. Conversely, if there is a downward price movement, the price could fall back to $100.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-320382" src="https://coin-turk.com/wp-content/uploads/2024/02/1-sol-usdt-coin-turk-com.jpg" alt="" width="1588" height="655"></p> 
<h2 style="text-align: justify" id="outlook-on-solana-s-price">Outlook on Solana’s Price</h2> 
<p style="text-align: justify">The Chaikin Money Flow (CMF) index indicates a positive outlook with a value of 0.05. This upward outlook suggests an increase in buying activities.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-320383" src="https://coin-turk.com/wp-content/uploads/2024/02/solana-rsi-cmf-coin-turk-com.png" alt="" width="1567" height="891"></p> 
<p style="text-align: justify">Furthermore, the daily Relative Strength Index (RSI) appears to have dropped slightly below 50, but its proximity to neutral still reflects the possibility of a recovery to investors.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solana-price-dynamics-and-market-outlook/" data-wpel-link="internal">Solana Price Dynamics and Market Outlook</a></h5>

Solana Price Dynamics and Market Outlook

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