Currently, the price of Solana has been showing resilience amid market volatility. This recent performance of SOL has raised rally optimism among market participants as to whether the digital asset’s price could potentially reach the $160 mark in the upcoming days. Particularly, this article aims to provide technical insight on recent price performance and technical indicators that suggest the potential for the crypto asset to hit $160 focusing on the 4-hour and the 1-day chart. At the time of writing, SOL’s price was up by over 7%, trading at about $143, with a market capitalization of more than $66 billion and a trading volume of more than $3.5 billion. In the last 24 hours, SOL’s market capitalization and trading volume have increased by 7.81% and 55.69% respectively. Technical Insights On SOL’s Recent Price Actions Presently, the price of SOL on the 4-hour chart with bullish momentum is trading above the 100-day Simple Moving Average (SMA). The digital asset has been on an upward spiral since after failing to retest its previous low of $121 and given the price movement, there are possibili ..
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