The News Crypto -
- At the time of writing, SOL is trading at $59.12, up 2.72% in the last 24 hours.
- If the price manages to go past the $59.7 mark then it will likely test the $62 resistance level.
A crypto whale moved a significant quantity of Solana (SOL) to Binance exchange. Over $10M was the estimated worth of the transaction, which included 199,999 SOL. Concerned investors have been fueling rumors of a sell-off due to the recent whale transfer.
Well-known crypto YouTuber Ben Armstrong predicts that Solana will be among the best-performing cryptocurrencies during the next bull run. Armstrong recently referred to Solana in a video as a “Christmas gift that just keeps on giving.”
Moreover, Armstrong believes that Solana will end the bull run in second place, after XRP, despite his findings and Solana’s previous track record. Armstrong not only predicts that Solana will increase in price, but he also thinks it’s time to start talking about whether or not it might overtake Ethereum when it comes to market value.
Bulls Pushing Hard
The mixed signals from the numerous technical indicators and MA levels in Solana price movement show a complex market perspective, according to technical analysis. With an RSI of 67.52, Solana is exiting the overbought zone, indicating that it is now trading in a range with some possibility for volatility and a brief correction might be around the corner.
Source: CoinMarketCap
At the time of writing, SOL is trading at $59.12, up 2.72% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 5.08%. If the price manages to go past the $59.7 mark then it will likely test the $62 resistance level. On the other hand, if bears drive the price below $56.4 level, then it will likely test $51.7 support level.
This article was originally published on thenewscrypto.com
