After a period of volatility, the price of Solana (SOL) has regained its losses. This altcoin has become one of the best performers in the market, reaching a critical price of $124.
Solana Metrics Signal Possible Growth
Earlier this month, Solana entered a ‘death cross’ zone, but recently positive trends have emerged. The volume of SOL is showing growth, which may signal a potential return to the $150 level. Currently, Solana has recovered its losses and has risen by 2.68% over the past week.
Fundamental Factors Supporting Solana
Despite the overall market trend, certain fundamental indicators of the Solana ecosystem are aiding in price support. Notably, Grayscale Investments is working on creating an ETF for Solana, which may attract more institutional investments. There is also an increase in open interest in Solana among market players.
Forecasts and Expected Trends for SOL
Considering current trends and recovery processes, analysts remain optimistic about Solana's further growth. However, full confidence will require overcoming the 'death cross' level to confirm a complete bounce.
The recovery of Solana's price and positive fundamental news create a favorable backdrop for further growth, but investors should consider market risks.
