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​​SOL Soars 38% in a Week: Will Solana’s Bullish Run Continue?

Published 10/24/2023, 01:30 AM
Updated 10/24/2023, 01:45 AM
​​SOL Soars 38% in a Week: Will Solana’s Bullish Run Continue?
SOL/USD
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  • SOL’s 38% surge signals renewed investor interest, hitting $30 for the first time since 2022.

  • Positive Chaikin Money Flow (CMF) and rising Stochastic RSI suggest SOL/USD may see further price hikes.

  • Despite doubts, Solana’s growing DeFi value and social dominance keep investors and enthusiasts optimistic.

The crypto market has recently witnessed a surge in bullish sentiment, propelling prices to new heights. Among the standout performers, Solana, a popular layer one blockchain project, has captured the attention of investors worldwide.

Since October 15, Solana has seen its value increase by over 38%, peaking at $30 for the first time since the November 2022 market turmoil.

SOL/USD 7-day price chart (source: CoinStats)

Solana was valued at $31.02 at press time despite a slight pullback from its weekly high. The last time Solana touched the $30 mark was during the collapse of FTX, making its recent performance even more notable.

Analyzing the Factors Behind Solana’s Rise

Several factors contribute to the heightened interest in Solana. Trading volumes have surged, and Solana’s total value locked in DeFi has shown a significant uptrend, indicating…

The post ​​SOL Soars 38% in a Week: Will Solana’s Bullish Run Continue? appeared first on Coin Edition.

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