Expect for Shiba Inu [SHIB] the entire market was enjoying the bullish takeover. Cardano [ADA], Solana [SOL], and XRP were the front runners of the bullish marathon. The other coins weren’t too far behind as they managed to amass dainty gains.
Bitcoin [BTC] was clearly aiming for a passage over the $65K zone. However, it failed to establish strong support beyond $63K. The altcoins were in great shape. Ethereum [ETH] was eyeing $5K while Binance Coin [BNB] was trying to move over $550. Additionally, the market cap of BNB was seen making its way to $100 billion.
Solana [SOL], during the time of writing, was trading for a high of $228 with a 12.24% surge over the last 24-hours. The altcoin hit an all-time high of $232, about an hour ago. The asset’s impeccable growth helped the altcoin secure a spot in the top 10.
Earlier today, the altcoin briefly flipped Cardano and took over as the fifth-largest cryptocurrency. However, Cardano got back its rank as its market cap moved to a high of $70 billion. At press time, the market cap of SOL was noted at $68 billion. Since the disparity between the two wasn’t too high, the chances of a change could be in the works.
Cardano overshadowed by Solana’s price change
In Solana’s one-hour price chart, a reversal in trend was noted. The Parabolic SAR indicator for instance had laid out a single dot over the price candles. This suggested that the altcoin was moving towards the bearish arena. The Chaikin Money Flow indicator was still residing in the bullish zone. However, the chances of the CMF marker dripping down below the zero median couldn’t be nullified.
The Relative Strength Index [RSI] indicator revealed that SOL was heading back from the overbought zone onto the buyer’s arena. This meant that SOL continued to be purchased.
