Solana Price: Major Underlying Trend To Trigger Rally?
Solana Crypto Price News: Altcoins were bleeding on Monday as Bitcoin price touched the new nine month high. The new price action momentum comes after the emergency merger deal between Credit Suisse and UBS Group. The crypto market continued its rally as the banking crisis spread its contagion effects for the third consecutive week. Meanwhile, top altcoin Solana (SOL) is displaying peculiar behavior in terms of daily trading patterns. Is it a sign of growing momentum for upcoming buying demand for the token?
Also Read: FDIC Delays SVB Bidding As Banking Crisis Continues, Bitcoin Price To $30K?
Ahead of the crucial Federal Open Market Committee (FOMC) meeting, the crypto market is showing little signs of correction in the wake of aggressive price rise last week. Also, the prospect of a 25 bps interest rate hike on the expected lines could be an even more bullish factor for Bitcoin as well as altcoins. The next big milestone could be BTC breaking the $30,000 psychological barrier after the Fed meeting.
Solana Rally Ahead?
While the altcoin market is showing signs of retracing even as Bitcoin remains on the upward curve, Solana’s daily trading volume is abnormally high with a 142% rise compared to 24 hours ago. Hence, is it enough reason to believe that a SOL price rally is incoming? It remains to be seen if this trend continues beyond the FOMC meeting on March 22, 2023. Yet, another spell of bank crisis led crypto rally can not be ruled out the share price First Republic Bank continues to weaken.
Also Read: Bear Market Officially Over? Bitcoin Futures Open Interest Hits New Yearly High
- Pi Network Dedicates 350,000 Active Nodes for AI With OpenMind Partnership
- Breaking: Trump Cuts Tariffs as US-China Reaches 1-Year Trade Deal, Bitcoin Rebounds
- Binance Responds to Charges of Supporting Trump-Family Crypto USD1 and WLFI Soon After CZ Pardon
- SpaceX Makes Third Huge Bitcoin Transfer in 10 Days, Is Elon Musk Planning Something Big?
- Crypto Market Tumbles as Jerome Powell Says December Rate Cut ‘Far From Certain’
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
- Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align
- HYPE Price Prediction as 21Shares Files S-1 for Hyperliquid ETF—Can Bulls Push HYPE to $60?
- Bitcoin Price Rally Bound? How the Fed’s Move May Unleash Crypto
- Can ASTER Price Rebound 50% as Whale Activity and Bullish Pattern Align?
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
MEXC