Ethereum (ETH) rival Solana (SOL) has overcome the cryptocurrency market slump thanks to its new integration with Binance’s Web3 wallet.
According to CoinGecko, the fifth-largest cryptocurrency asset by market capitalization is up more than 5% in the past 24 hours, while the overall cryptocurrency market cap is down 3.8% over the same period.
Binance Called Web3 Wallet users can now trade SOL and access various DApps and future airdrops.
However, some cryptocurrency analysts believe that Ethereum’s rival is ready for a correction.
Ali Martinez earlier this week said SOL’s Tom DeMark (TD) sequential indicator flashed a sell signal on the daily chart with 52,700 followers on social media platform Traders predict that SOL could revert to the $127-152 range.
The TD Sequential Indicator is commonly used to identify potential turning points in asset prices.
SOL is up more than 23% in the past week, nearly 52% in the past month, and more than 62% since the beginning of the year. However, despite this price increase, it remains almost 32% below the all-time high of $259.96 set in November 2021.
SOL is trading at $177.72 at the time of this writing.
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