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The Solana price has seen a 7.1% increase in the past 24 hours, trading at $41.08 as of 4:58 a.m. EST.
Solana’s 24-hour trading volume has reached $1.10 billion, marking a 19% increase from yesterday and underscoring increased market activity. This has contributed to a 75% monthly performance boost.
The recent increase in value may be linked to activities on the FTX exchange, which has transferred 2.14 million SOL tokens, valued at around $94 million, over the past week. This movement of tokens could potentially impact market prices.
Currently, FTX still possesses 4.8 million SOL tokens valued at over $211 million and has 3.96 million SOL tokens in a stake account.
Additionally, data sourced from CoinGlass indicates that on Binance, there are more long positions on SOL than short positions.
The ratio of long to short positions for SOL, as determined by user accounts on the platform, stands at 1.4783. This suggests that increased bullish activity from retail traders could be contributing to a rise in prices.
Solana Price Needs to Break $47.02 to Confirm Bullish Rally
The price of SOL has seen a significant rise, marked by a continuous and steady upward trajectory on its price chart.
This upward movement was initiated when a head and shoulders pattern developed close to the $18.21 support level, signaling a transition from a bearish to a bullish trend and creating a potential opportunity for bullish traders and investors.
The bulls managed to surpass the resistance at $21.49, which had previously triggered a double top pattern, hinting at a possible shift towards a bearish trend.
However, the bulls established solid support at $32.8, allowing the price to rise to the $47.02 resistance level.
Solana Price Bulls Aim for $50 Level
The Solana price has successfully crossed the 50-day and 200-day moving averages, reinforcing the bullish trend. With the 50-day SMA confirmed to have crossed over the 200-day SMA, it could attract more buyers.
In the coming weeks, SOL has the potential to reach the $50 mark. This outlook is supported by the relative strength index (RSI), which indicates upward momentum as it rebounds from the 50-level to 71. This suggests substantial buying interest in the price range of $32 to $47.
The bullish momentum remains strong, with buyers demonstrating unwavering determination to recoup their losses. This determination motivates them to drive higher prices, aiming for new highs around $48 and $50 in 2023.
On the other hand, bearish traders may see the correction as an opportunity to mitigate their losses, potentially applying downward pressure to the price, targeting the $29.08 support zone.
If you missed the SOL price surge, it’s a wise move to consider participating in the TGC presale, which has seen a remarkable increase in funding so far and is poised for a remarkable 20X growth potential.
Buy TG.Casino Token Now: Price Poised for 20X
The TG.Casino presale has advanced to its third stage, with the token price increasing to $0.15 from its previous value of $0.1375.
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The platform’s presale has successfully raised $1,756,751 in funding, reaching approximately 70% of its initial target of $2.5 million. With only 4 days remaining until the conclusion of the current presale stage, the token price is set to increase again. It’s thus advisable to secure tokens now at the discounted price of $0.15
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The platform provides a substantial 25% cashback on losses from wagers placed using TGC tokens.
The token distribution is thoughtfully structured, encompassing aspects such as liquidity, staking, pre-sale, play rewards, affiliates, and marketing, creating a well-balanced ecosystem.
TG.Casino stands out for its potential for significant growth, thanks to its integration with a vast user base of over 1 billion on Telegram.
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Industry experts and analysts who have assessed the project anticipate that early investors could see their investments grow to 100X once the project is listed on exchanges.
Alessandro De Crypto, a well-known YouTuber boasting over 11.6k subscribers, has done a review of TG.Casino and expressed his optimism and bullish sentiment by investing $350 in TGC tokens.
https://youtu.be/IsSrg4wF-pg
You can get into the action now. Simply visit the official TG.Casino website, connect your digital wallet, and buy $TGC tokens using a selection of cryptocurrencies such as Ethereum (ETH), Tether (USDT), and Binance Coin (BNB) on the Binance Smart Chain network.
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