Solana Price Prediction as 70% Gains in 30 Days Outpaces Competitors – Can SOL Keep Its Momentum?
The Solana price has dipped by 1% in the past 24 hours, falling to $55.47 in a move that also represents a 1% loss in a week.
Yet SOL remains up by an impressive 71% in the last 30 days, with the altcoin also recording a 450% increase since January 1.
This makes it the best-performing top-100 cryptocurrency over this period, and with the coin carrying largely holding onto this momentum over the past month, it’s likely that it will witness more gains in the coming weeks.
Despite recent losses, SOL continues to maintain considerable strength, with its indicators all in positions that point to incoming gains.
Its relative strength index (purple) has stopped falling after a difficult time last week, and is now nearing 60 again, potentially as a prelude to more rising.
No less encouragingly, SOL’s 30-day average (yellow) continues to rise further above its 200-day (blue), implying that it remains in the middle of an expansionary, bullish phase.
And given that the average continues to rise, it doesn’t like this phase is going to an end anytime soon.
This view receives support from the coin’s 24-hour trading volume, which remains fairly high at $1.3 billion, compared to $200 million back in September.
Indeed, SOL currently stands as the most heavily traded alt among funds, with the coin often leading even Ethereum (ETH) in terms of weekly inflows.
Crypto funds total $326 million of net inflows last week
Biggest inflow since July 2022$BTC and $SOL leading the move
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