InstaForex

September 1, 2021

Achieve Digit 3 Digits, Solana Strongly Positioned In The Top-10 Group!

 Solana continues to strengthen its top-10 position to occupy 8th place with a market value of over $ 33 billion based on CoinMarketCap.


The surge is just a little further to surpass Dogecoin which is in 7th place.


Several factors are seen to drive Solana to continue to record a drastic surge and is now back to shine in the crypto market with an encouraging performance.


Solana has also exhibited an increase of over 500% from the $ 22 lows that are often tested in May through July trading.


Looking at the SOL/USDT chart, the price movement has already ‘rocketed’ to the latest all -time high (ATH) at the $ 130.11 price level.


However, towards the end of the August market, the price slightly declined to the $ 100 RBS (resistance become support) zone, which is likely to be driven by profit taking activity.



The price decline is seen making the latest HL (higher low) before continuing the higher uptrend.


A more drastic jump will be observed at the ATH level of $ 130.11 to break before reaching expectations in reaching the $ 150 level.


But it is not impossible for the price to decline back to a level that may be slightly lower around the next RBS zone at $ 80- $ 84 to determine the next direction.


Will SOL be able to double its market value to occupy the top-5 on CoinMarketCap based on its current track record?


As of 1.40pm local time, the SOL price remained soaring above 2% to trade at the price level of around $ 110.40.