- SOL surged 165% from the end of January to the end of March.
- Solana has been integrated into a strong penant since early March 2024.
Solana (SUN) From the end of January to the end of March, it was integrated into a strong pennant after experiencing a 165%surge.
At press time, Solana was priced at approximately $167.30. SOL was still consolidating in a bullish pennant ahead of a possible continued surge.
If the price falls beyond the demand zone, a further decline towards the pennant support level is possible.
However, if the price bounces back from the demand zone after closing the fair value gap and builds enough bullish momentum to break through the pennant resistance zone, a surge to the $200 target is likely.
Source: TradingView
At the time of this writing, CoinMarketCapSOL was traded at . $167.83, It is up 1.34% in the last 24 hours and down 7.93% in the last 7 days.
Solana’s market capitalization was $75.5 billion, and 24-hour trading volume was $2.99 billion, an increase of 21.8%.
What does the future look like for Solana?
AMBCrypto looked at Coinglass data on the Solana Long/Short ratio chart and found that the Long-Short ratio has been high over the past few days, indicating that bullish momentum is building.
This is because the high long shot ratio represents a strong momentum and that traders are willing to buy and hold.
Source: Coinglass
In addition, the Bolinger band on the daily chart has been expanded, showing a high volatility market that can lead the strong pressure to the resistance area or re -test it into a demand area.
Source: TradingView
AMBCrypto looked at Santiment’s social volume chart and found a positive correlation between Solana’s price and social volume. The increase in social media activities leads to a surge in prices, causing public attention.
Source: Santiment