Despite attaining massive gains, the crypto market still witnessed a fall. However, Solana [SOL] kept sprinting ahead.
Bitcoin [BTC] hit a high of $52K and stunned the crypto community. While the king coin has called back to the $51K zone, the asset’s efforts to move on to $52K were still on. $1 trillion market cap wasn’t too far off either for BTC. Ethereum [ETH] stayed stagnant within the $4K zone. Almost every other asset was seen painted in red.
Solana [SOL] has been proving its worth throughout the month. The fairly new coin was seen running while all the other assets were jogging. The altcoin fast-tracked from less than $100 to an all-time high of $194 in a short period of time.
At the time of writing, the altcoin was trading for $185.47 with a surge of $29.29% over the last 24-hours. SOL even bagged gains of about 53% during the previous seven days.
Additionally, with regard to its market cap, SOL overshadowed an array of assets and plunged towards the top. The asset with a market cap of $54 billion, stood as the seventh-largest cryptocurrency.
Solana [SOL] one-day price chart on Binance
The one-day price chart of SOL was quite clearly with the bull. The bulls were seen setting out camps in the SOL market. The Parabolic SAR indicator has been the same since the 26th of August. The indicator set out dotted lines below the candlesticks and has maintained the same. This line further acted as a barricade against any possible downward breakout.
The Awesome Oscillator indicator rolled out green closing bars and affirmed the presence of the bull in the SOL market. This further indicated that the chances of the asset hitting $200 were high.
Furthermore, the Relative Strength Index [RSI] indicator announced that Solana [SOL] was being overbought as the marker was at 90 median.