Unlike the last couple of days, the crypto market was doing better today. Assets like Solana [SOL] and Terra [LUNA] were under the crypto spotlight with double-digit gains. All the other coins weren’t sinking in the bearish waters as they were bagging dainty gains.
Bitcoin [BTC] was still at $47K. So close yet so far. The market cap of Bitcoin was at $897 billion. The chances of BTC hitting $900 billion or even $1 trillion were being haggard. Despite this, the global crypto market cap was over $2 trillion.
While all the top assets barely made any profits, Solana [SOL] had accommodated the bull in its market. The altcoin managed to hit an all-time high for the second time this week. The asset’s latest all-time high was $84.08. At the time of writing, SOL was trading for $82 with a 22.48% surge in the last 24-hours. Even though the altcoin encountered a small blip, it was seen doing much better than almost every other coin in the market. The daily gains of the asset preceded that of the coin’s weekly gains which were at 14%.
Furthermore, Solana managed to rise from the 14th rank all the way to the 10th rank as its market cap rose to a high of $24 billion. Litecoin [LTC], Bitcoin Cash [BCH], and Uniswap [UNI] were all taking a back seat.
Solana [SOL] one-hour price chart on Binance
The short-term price chart of the altcoin was seen paving the way for the bear. Most of the indicators were seen shifting towards the bearish side of the chart. The Awesome Oscillator indicator formed red closing bars and announced the presence of the bear in the market. The MACD indicator was still in a bullish crossover, however, the MACD line was slowly falling below the signal line with the intention of forming a bearish crossover.
The Relative Strength Index [RSI] indicator was residing in the buyers’ arena. The RSI marker was seen moving from the overbought zone.
