The last couple of days have been great for the crypto market. Assets like Solana [SOL], XRP, Cardano [ADA], and a few others bagged significant gains over the previous few days. However, this bullish momentum was interrupted.
Bitcoin [BTC] retained itself over $45K. The king coin, at press time, was trading for $46,790 with a 1.72% drop over the last 24-hours. While the global crypto market cap hit a high of $2 trillion, BTC was still at $880 billion.
As most of the assets started turning red, Solana [SOL] and Polkadot [DOT] were the only coins that were still dwelling in the bullish arena.
Solana [SOL] emerged as a prominent asset as it surged both in terms of price as well as market cap. Earlier today, the altcoin hit an all-time high of $74.89. The bears seemed to have crept into the SOL market as well as the asset was trading at $69.87, during the time of writing. Furthermore, the altcoin bagged gains of about 14.27% over the last 24-hours.
Additionally, Solana climbed up the crypto ladder as the altcoin’s market cap hit a high of $29.30 billion. This landed the altcoin the tenth rank. SOL took over prominent assets like Uniswap [UNI], Chainlink [LINK], and Bitcoin [BCH].
Solana [SOL] one-day price chart on Binance
The one-day price chart of SOL affirmed that the altcoin was still riding the bull. The Parabolic SAR indicator used in the chart formed dotted lines below the candlesticks. This line stood as a prominent line of support against any potential downward breakout. The Chaikin Money Flow indicator also mirrored this sentiment. The CMF marker was way over the zero median in the bullish arena.
Furthermore, the Relative Strength Index [RSI] indicator noted that SOL was being overbought. The RSI marker was seen beyond the 80 median.