The News Crypto -
- At the time of writing, SOL is trading at $60.50, up 1.96% in the last 24 hours.
- If the price manages to go above $61.5 level then it will likely climb further to test $76.2.
With its persistent appeal to large financial institutions, Solana (SOL) has reclaimed its status as one of the most sought after altcoins. The weekly update from CoinShares states that SOL assets under management surpassed $365 million, with $12.4 million more coming in last week.
With $240 million and $49.1 million, respectively, Ethereum and Bitcoin were two other assets that saw growing inflows. A new daily transaction high for Solana has garnered a lot of attention in the cryptocurrency industry. With 51.63 million transactions per day, Solana’s network hit a new record high.
Additionally, crypto expert James brought attention to the fact that, under ideal circumstances, the market value of Solana might account for 20% of Ethereum’s. The expert’s estimate puts Solana’s market worth at over $192 billion if it reaches this target.
Bulls in Control
At the time of writing, SOL is trading at $60.50, up 1.96% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 2.95%. The price found support at the $53.7 mark on November 28. The bulls pushed the price from this level and are eyeing to break above the $61.5 resistance level.
Source: CoinMarketCap
If the price manages to go above $61.5 level then it will likely climb further to test $76.2 resistance level. Further surge will likely result in price testing $93.6 level. On the other hand, if the price manages to go below $59 level, then it will likely decline further to test $56.6 support level.
This article was originally published on thenewscrypto.com
