Solana is bullish today after gaining 4.8% in the last 24 hours. At the time of writing, SOL was trading at $14.91, according to CoinGecko. Despite the recent gains, SOL is down by nearly 50% in the last week.
Solana price analysis
In the last 24 hours, Solana has traded between $13 and $15, indicating substantial volatility. The token is currently benefiting from a slightly bullish outlook in the broader market. The total market cap is still below $900 billion, but most cryptos are firmer today.
If SOL can maintain the current pump, traders buying the dip could trigger a rally toward $18 in the short term. SOL is currently on the way to testing the $15 resistance level again, and if it breaks through, more gains could be on the way.
Solana’s price chart shows that the bearish pressure is easing. The Relative Strength Index at 51 indicates a neutral level between the token being overbought and oversold. With the bulls and bears fighting for control, SOL could consolidate at the current prices.
Solana dumped following the collapse of the FTX exchange. The Solana ecosystem had a close relationship with the now former CEO of FTX, Sam Bankman-Fried. Bankman-Fried touted the ecosystem as one of the most promising in the web 3.0 & crypto space.
FTX Ventures was an early investor in Solana. Therefore, as the exchange frantically searched for liquidity, there were concerns that FTX would liquidate its SOL holdings, triggering intense selling pressure.
Three coins that could pump 30x in 2023
There is still uncertainty over whether Solana will fully recover after the demise of FTX. Therefore, investors are now looking for the next tokens that could make impressive gains.
Dash 2 Trade (D2T)
Dash 2 Trade is a new cryptocurrency project running on Ethereum. The intelligence platform will equip beginner and experienced traders with real-time market data, news feeds, and social indicators to help them maximize profits.
The D2T token presale started over three weeks ago and has already raised more than $6.2 million. The token has already announced its first listing on LBank, with the BitMart exchange confirming it will list the token after the presale ends.
RobotEra (TARO)
TARO is also an ERC-20 token as it also runs on Ethereum. TARO powers the RobotEra metaverse, where players can participate in the creation of the digital world. The alpha version of this metaverse will launch in Q1 2023.
The TARO presale has already commenced, and investors are rushing to the website to buy tokens during the first stage before the price increases in the second stage. TARO is trading at $0.020, and the price will increase to $0.025 in the second presale stage.
Calvaria (RIA)
Calvaria is the new entrant in the play-to-earn gaming space. In this blockchain gaming platform, players can collect NFT-based cards and trade them or use them to battle other players.
Calvaria has differed from other blockchain games as it will allow players to participate without holding any crypto. The RIA presale has raised more than $1.75 million and is currently in the fourth stage.
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