SOL Price Restarts Bull Cycle At $130 Amid Market Recovery
The post SOL Price Restarts Bull Cycle At $130 Amid Market Recovery appeared first on Coinpedia Fintech News
With a bloodbath yesterday, the crypto market is back in action, and the altcoins quickly gain momentum. Amidst top performers, the SOL price jumps with a lower price rejection from the $110 level.
As the bullish recovery gains momentum in Solana, the buyers anticipate a new upcycle with multiple resistances along the way. Will the SOL price rechallenge the $200 mark this month?
Solana Price PerformanceThe recent negative cycle in SOL price during the market crash becomes a prominent figure in the 1D chart. With a streak of bearish candles, Solana lost 30% of its market value in just eight days. Starting from the $190 resistance, the downfall made a low of $110 before a quick recovery to close at $129.
The lower price rejection pushing the closing price 19 points higher reveals an underlying surge in demand. Furthermore, with the Asian markets recovering, the crypto market makes a recovery and Solana finds additional push.
As the conditions improve, the SOL price is up by 8.63% today and trades at $141, undermining the fall yesterday. Further, the bullish dominance at the $130 level hints at a new bull cycle.
Short-term Reversal Begins Bullish Butterfly EffectThat #Solana rebound was wild! If there was only one account that told you to buy $SOL. 