InstaForex

August 17, 2021

Is the engine hot? Solana (SOL) Records Latest ATH Rocketing To The Moon!

 Solana is among the cryptocurrencies that have shown consistent improvement since its launch last year.


Last Sunday, SOL proved that it is among the highest -performing cryptocurrencies when it jumped more than 28% in 24 hours.


As a result, SOL still maintained a consistent price movement recording the latest all-time high (ATH) in a row, thus breaking into 10th position ahead of Uniswap in the crypto market cap chart.


The positive price movement was also driven by the Mango Markets Decentralized Exchange (DEX) and the launch of the Wormhole project.


Next, examine the current movement chart of the SOL/USDT price.


The SOL price movement seems to have managed to break the previous all -time high (ATH) by posting the latest ATH around $ 74.6 in the last few hours.



Yesterday’s trading session, SOL remained with drastic price movements producing over 15% spike being the determinant for SOL to continue its aggressive rise.


From a technical point of view, the price movement is seen to remain with a bullish trend and is testing the $ 72.5 resistance zone.


As for the next expectation, if SOL stays with the bullish trend, it will break the $ 74.6 ATH and make the latest ATH in a row.


However, if SOL returns to show a bearish pattern, the RBS (resistance become support) level around $ 66 will be tested first to either make a rebound or continue the decline lower.


At the time of writing, Solana is trading at a price of around $ 72 up over 14% in the last 24 hours.