SOL Surpassed ETH in Daily NFT Sales for the First Time Ever

• Step Data Insights noted in a tweet on Friday that SOL surpassed ETH in terms of daily NFT sales.
• According to the analysis platform, this is the first time that SOL has posted more daily NFT sales than ETH.
• At press time, SOL was trading at $19.01 after it gained more than 4% over the past 24 hours.

A Solana (SOL) data analytics platform, Step Data Insights, took to Twitter on Friday to announce that Solana flipped Ethereum (ETH) in terms of 24-hour NFT sales volume for the first time ever. The analytics platform highlighted the fact that Solana was able to achieve this in a bear market, which is an enormous feat.

According to the post, Solana occupied the top position on the list of blockchains by NFT sales volume. The two crypto market leaders, ETH and Bitcoin (BTC), occupied the second and third positions respectively. Meanwhile, Polygon (MATIC) took the 4th spot while ImmutableX was in the 5th position.

SOL was also able to outperform the leading altcoin in terms of price performance over the past 24 hours. At press time, ETH was worth about $1,913.01 after a 0.33% price decrease over the past 24 hours of trading.

Meanwhile, SOL was boasting a price increase of more than 4% over this time period. As a result, the Ethereum-killer was trading hands at $19.01. SOL’s weekly performance was also up by more than 11%.

SOL’s price was able to break above the 50-day EMA line over the past 48 hours and continued to trade above the significant technical indicator at press time. As a result, SOL was attempting to challenge the major resistance level at $19.68. In addition, a notable bullish technical flag recently triggered as well.

The 9-day EMA line crossed bullishly above the 20-day EMA line over the past 3 days – indicating that SOL’s price had entered into a short-term bullish cycle and would continue to rise in the coming few days. Should this bullish flag be validated, SOL will most likely flip the aforementioned $19.68 resistance into support within the next week.

If this were to happen, it will clear a path for SOL to rise to the next key resistance level at $22.56. Continued buy pressure at this level may even elevate SOL’s price to as high as $26.85.

On the other hand, if SOL fails to close a daily candle above $19.68 in the next 2 days, it may be at risk of dropping to $17.69 in the coming week. If the 9-day and 20-day EMA lines are unable to hold as support, then SOL’s price could continue to fall to $15.80.

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