The crypto-verse has encountered an array of emotions over the last couple of weeks. With the week just starting, most of the assets were seen residing in the bearish realm. However, Solana [SOL], Polkadot [DOT], Uniswap [UNI], and Ethereum [ETH] were the only assets riding the bullish wave.
Dainty and big changes, every other cryptocurrency was painted red. Bitcoin [BTC] was stuck at $47K while its market cap slumped down below $900 billion. Despite this drop, the global crypto market cap remained over $2 trillion.
Solana [SOL] has been under the crypto limelight for the longest time now. The altcoin pushed past several barricades and moved beyond $100. The asset managed to repeatedly hit all-time highs over the last few days. At the time of writing, SOL was trading for $119.99 with a daily surge of 20.77%. Additionally, over the course of the previous seven days, SOL accumulated gains of up to 55.61%.
Furthermore, the market cap of the coin remained at $34.83 billion which allowed the asset the 8th rank. Solana was definitely not too far from overtaking Dogecoin [DOGE]. DOGE’s market cap was at $36 billion and it had taken over the seventh position. SOL’s next target could be DOGE.
Solana [SOL] one-day price chart on Binance
In the one-day price chart of SOL on the cryptocurrency exchange, Binance noted that the bulls were in the asset’s market for the long run. The Awesome Oscillator indicator laid out green closing bars. These long sturdy bars alerted the presence of bulls in the SOL market. This was then followed by the Chaikin Money Flow [CMF] indicator residing in the bullish arena. The CMF marker was sky-high way over the zero median.
The Relative Strength Index [RSI] mirrored the ongoing notion and revealed that SOL was being overbought. The RSI marker was seen over 80 median.