Bitcoin [BTC] finally shattered its previous record and went on to set a new one. Despite this frenzy around Bitcoin, all eyes were on Solana [SOL] as the asset moved up nearly 22%, in the past couple of hours.
Almost all the assets in the market were making the most of the ongoing bullish notion. Ethereum [ETH] made it beyond $4K while remaining untouched as the second-largest cryptocurrency.
Solana [SOL] was clearly aiming for $200. SOL managed to lure in all the bulls into its market as it was seen surging by 22.41% over the last 24-hours. At the time of writing, SOL was trading for a high of $191.50. Just last month, the altcoin hit an all-time high of $214.96. Considering its latest flow, Solana could be reaching out to these digits once again.
Solana [SOL] one-hour price chart on Binance
The short-term price chart of SOL revealed the reason behind its upward trajectory. The Parabolic SAR indicator insinuated that this bullish notion could prolong as dotted lines were noted below the candlesticks. Not only did this act as a barricade against any sudden drops, but it could also mean that the price of Solana [SOL] could witness a rise.
The Chaikin Money Flow [CMF] indicator affirmed this speculation. The CMF marker was way over the zero median, residing in the bullish arena. Additionally, the Relative Strength Index [RSI] indicator pointed out that the altcoin was being excessively bought. The RSI marker indicated that Solana was in fact being overbought.
Bitcoin [BTC] was certainly under the crypto spotlight with its impeccable price change. With a 3.23% rise over the previous few hours, BTC not only moved past its previous all-time high of $64,899, but it also managed to break beyond $66K. During press time, the king coin was trading for a high of $66,127.
The chances of the asset hitting $70K were on the higher side.