Summary
TLDR: The article analyzes Solana’s market performance, with indicators showing potential for further price movements. The RSI suggests neutrality, on-chain activity is rising, and there could be a new yearly high or a correction in the near future.
Key Points
1. Solana’s price has experienced a significant recovery, rising to $128.60 from a cycle low of $8.28, marking a remarkable 1,486.15% increase.
2. The trading volume for Solana has surpassed $1 billion in the last 24 hours, indicating heightened investor interest and market liquidity that could drive further price movements.
3. Solana’s on-chain activity, including the growth in unique transaction signers and decentralized exchange trades, suggests an active user base and usage of Solana applications, which can directly impact the network’s activity and price.