- Solana is on the number one spot on CoinMarketCap’s trending list.
- The altcoin’s price has risen 5.18% over the last 24 hours.
- SOL’s price is now trading near a key resistance level at $25.84.
Solana has made its way to the top of CoinMarketCap’s trending list following its 18.16% price gain in the last 24 hours. SOL’s price is also up 5.18% over the last 7 days and printed an impressive monthly gain of 105.77%. According to CoinMarketCap, Solana’s native token, SOL, is trading at $24.85.
SOL’s price has also strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 10.15% and 11.22% respectively.
The trading volume for SOL is another figure that has experienced a surge over the last 24 hours. At press time, the daily trading volume for SOL stands at $1,739,759,316, which is a 135.99% increase compared to yesterday’s trading volume.
A medium-term bullish flag that SOL traders and investors should take note of is the 20-day and 9-day EMA lines crossing above the 50-day EMA line. Currently, the relative position of these 3 EMA lines signals a continuation of the bullish trend, as the 9-day EMA is positioned bullishly above the 20-day EMA, and the 20-day EMA is positioned bullishly above the 50-day EMA.
SOL’s price may enter into a slight pullback given that it is currently trading at the $25.84 resistance level, which resulted in a retracement in SOL’s price earlier this week.
Should SOL’s price successfully break above the resistance level at $25.84, then its next target will be $29.36. On the other hand, if SOL’s price fails to break above the aforementioned resistance level and a pullback does ensue, then SOL’s price will drop to $23.64 before dropping to $20.65.
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 price is up more than 100% over the last 30 days and now trades at a crucial resistance level. Read more.){kind=link}