{"id":543465,"date":"2023-07-20T09:50:19","date_gmt":"2023-07-20T09:50:19","guid":{"rendered":"https:\/\/wncen.com\/?p=543465"},"modified":"2023-07-20T11:28:32","modified_gmt":"2023-07-20T11:28:32","slug":"solana-sol-smashes-previous-high","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana-sol-smashes-previous-high\/","title":{"rendered":"Solana (SOL) Continues To Shine With Over 20% Surge – What’s Next?"},"content":{"rendered":"
Solana (SOL) offered an attractive chance for buyers to seize a favorable risk-reward ratio as it retraced to test a previous resistance area. At the same time, the market remained under the bulls’ control.<\/span><\/p>\n Furthermore, the on-chain metrics displayed promising performance. Notably, the number of active users experienced a gradual uptick, and an extraordinary surge in smart contract deployment on the platform was also observed.<\/span><\/p>\n Could this impressive on-chain performance indicate even more significant potential for Solana in the future?<\/span><\/p>\n According to data from\u00a0<\/span>Coingecko<\/span><\/a>, the current trading price of SOL has reached $26.58, marking a 1.0% increase in the past 24 hours. Even more striking is the remarkable seven-day rally, where SOL has surged by an impressive 21.7%.<\/span><\/p>\n These metrics indicate a positive sentiment surrounding the cryptocurrency and suggest potential opportunities for investors and traders.<\/span><\/p>\n While a slight loss of bullish momentum may have been observed in the lower timeframes, the 1-day chart revealed substantial bullish potential for SOL. A <\/span>SOL price report<\/span><\/a>\u00a0suggests that despite minor fluctuations in shorter periods, the overall outlook for SOL remains optimistic, especially considering the strong performance of the bulls throughout July.<\/span><\/p>\n Two critical indicators, the Relative Strength Index (RSI) and the On-Balance Volume (OBV), further support the bullish outlook for SOL. The RSI showcased robust bullish momentum, indicating that the buying pressure has been significant during the recent price surge.<\/span><\/p>\nAnalyzing SOL’s Performance<\/strong><\/h2>\n
Source: Coingecko<\/pre>\n
Strength In Bullish Momentum And Demand<\/strong><\/h2>\n