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
- Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH
- Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech
- Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption
- XRP News: Why Whales Sold 440M Coins in a Month Despite ETF Launch Buzz
- Just In: DeFi Dev Corp Launches Japan’s First Solana Treasury Company, SOL Price Reacts
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
