Solana's price rally today coincides with a flurry of upside signals, namely the recovery across its network's top memecoins and its rising crypto market dominance.
Solana’s price gains today coincide with multiple upside signals: the recovery across its network’s top memecoins and its rising crypto market dominance.Notably, on April 3, SOL's price jumped approximately 5.75% to around $192. In doing so, the cryptocurrency fared better than the overall crypto market, which rose 2.2% in the same period.
Solana's upside move today further benefits from its growing market strength versus the rest of the cryptocurrencies. Notably, the Solana Dominance Index , which measures SOL's market capitalization against the broader crypto market, rose 3.95% on April 3. The index has grown 28% year-to-date, indicating growing capital rotation into Solana.
Traditional analysts see ascending triangles as bullish continuation patterns if they form during an uptrend. As of April 3, SOL's bounce from the triangle’s lower trendline signals a jump toward the upper trendline at around $205, up 8% from the current price levels, in the coming days.A potential break above the triangle’s upper trendline can position the price for a push toward $250 in April, up over 35% from current levels.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Base and SOL memecoin market caps plummet 19% and 12% in 24 hoursBitcoin traders ignore Silk Road sale as BTC price bounces to $66.5K
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana (SOL) Institutional Appeal Skyrockets as Grayscale Solana Trust SurgesGrayscale Solana Trust's value surge shows increasing institutional interest in Solana (SOL)
Read more »
Circle CCTP on Solana set to go live, will SOL price rally?Solana (SOL) may be set for a potential price rally as Circle will launch its Cross-Chain Transfer Protocol (CCTP) utility on its blockchain on Tuesday.
Read more »
Solana Price Prediction: SOL likely to fall another 20% before buyers step inSolana (SOL) price has undone half of the gains noted in the past week as it trades below the $200 psychological level.
Read more »
Solana price wavers but increased DApp activity points to SOL recoverySolana bulls are attempting to regain the upper hand in SOL price, an effort which is clearly reflected in the network’s DApp usage.
Read more »
Epic Solana Prediction by Raoul Pal Wows Crypto Community Amid SOL Price DipSolana (SOL) previously rose to new yearly highs of $209 before price dipped
Read more »
Solana Price Prediction: Is SOL the altcoin to buy this bull cycle?While the bullish outlook prevails in the cryptocurrency market, the journey has been tumultuous since the fourth quarter of 2023.
Read more »