Solana Price Prediction as Franklin Templeton with $1.5 Trillion AUM Indicates Interest in Solana – $1,000 SOL Incoming?
The Solana price has dropped by 3% today, slipping to $98.76 as the cryptocurrency market as a whole suffers a 1% loss.
But while SOL is also down by 5% in a week, it remains up by a very healthy 32% in the last 30 days, not to mention its 340% gain in the past year.
Such movements come after major US investment firm Franklin Templeton posted a tweet in which it reported admiration for Solana and its development over the past few months.
Its remarks highlight the possibility of institutions taking a substantial interest in SOL in the near and more distant, something which can only be good for the token’s price.
SOL has been up and down over the past week or so, and its indicators reflect this inconsistency.
Its relative strength index (purple) has begun slipping downwards again after climbing modestly to 55 yesterday, a sign that it’s struggling to regain real momentum after falling from highs in late December.
On the other hand, SOL’s 30-day average (yellow) continues to rise gradually, a sign that it may remain in an expansionary phase, even if it has been correcting a little in the past couple of weeks.
Its support level (green) bolsters this view, in that it continues to rise healthily despite a few dips, with the coin seemingly insulated against dramatic drops.
It’s also encouraging that its trading volume remains above $3 billion, indicating that interest in SOL certainly hasn’t dried up.
Read more on cryptonews.com
