Solana Price Prediction – Up 14% to $13.11, Is This Best The Coin to Buy on The Rebound Right Now?

By November 23, 2022The Sandbox
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Solana Price Prediction - Up 14% to $13.11, Is This Best The Coin to Buy on The Rebound Right Now

Solana is bullish today after gaining around 14% in the last 24 hours. At the time of writing, Solana was trading at $13.11. During the same period, most cryptocurrencies have made notable gains, with the total crypto market capitalization increasing by 6%.

Solana price analysis

Solana was one of the worst-affected tokens during the recent FTX crisis. The token received a lot of support from the founder of Alameda, Sam Bankman-Fried. With FTX and Alameda going under, there were concerns on whether the firms would dump SOL in the market to recover user funds.

Solana seems to be recovering these losses, as buying support in the last 24 hours has increased. Traders rushing to buy SOL at cheap prices are triggering the price gain. The broader market support is also sustaining the uptrend.

After a few days of little to no price action, SOL’s volatility is increasing. In the last 24 hours, the token has traded between $11 and $13.39, with trading volumes of over $698 million.

Looking at the Solana price chart, there is significant momentum. The Relative Strength Index has increased to 52, indicating a surge in buying support.

On the other hand, the uptrend seems to be facing resistance, as the Moving Average Convergence Divergence line is moving in tandem with the signal line. This indicates that the buying support is weakening.

FTX court hearing could sustain Solana’s uptrend

The start of the FTX bankruptcy hearing could suggest that Solana will sustain the current uptrend. The FTX exchange filed for bankruptcy on November 11, and with the case officially starting, investor fears could be eased as a clear way forward is revealed.

The Solana community also seems to be moving on from the aftermath of the FTX collapse. The Solana founder, Anatoly Yakovenko, announced a major blockchain update to fix Solana outages. If Solana can prove itself as a reliable blockchain, it could live up to being an “Ethereum killer,” which could be bullish for SOL in the long term.

.@solana upgradoooors! 1.13.5 had udp off. It’s sooo good https://t.co/4m80QsdonO

Best coins to buy as crypto prices pump today

If you are buying Solana during the current uptrend, you should also consider investing in some of the best crypto presales of 2022.

Dash 2 Trade

Dash 2 Trade is a new cryptocurrency project that will be officially launched in the first quarter of 2023. The project is running on the Ethereum blockchain, and it will encompass real-time analytics, social sentiment data, and social trading tools to allow investors to pick winning trades.

The Dash 2 Trade presale has raised more than $6.86 million. The D2T token has also confirmed it will be listed on the BitMart and LBank exchanges after the presale ends, which confirms that early investors will be in for notable gains.

RobotEra

RobotEra is also a project running on the Ethereum blockchain. RobotEra is a Sandbox-like metaverse where players can buy land, develop it, and participate in creating the multiverse. This project is backed by LBank Labs.

The TARO presale started recently, and it has already raised more than $180,000. 1 TARO is currently priced at $0.020. The price will increase in the second stage to $0.025.

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