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🟢 After a long period of fluctuations, the price of Solana (SOL) has finally compensated for all its losses over the past week. As of the time of writing this report, the coin has emerged as the best-performing altcoin among the top 10 cryptocurrencies, after a 8% rise at the start of trading, regaining the resistance level at $124. With signs of a breakout appearing, the question remains: what’s next for Solana?

Solana metrics indicate a significant recovery in the future.

🟢 The Solana token slid into the death cross zone earlier this month amid rising sell-offs. At the peak of the market decline, selling by Solana whales was not uncommon as every trader sought to achieve balance.

With the revival of key SOL indicators, such as trading volume, the expectations for the cryptocurrency to recover to the $150 level remain high. At the current price level, Solana has compensated for last week's losses, rising by 2.68% over the past seven days.

🟢The SOL/USDT price chart illustrates the true picture of the ongoing price recovery. (RSI) 49, the momentum has shifted from the oversold level to the neutral zone. From here, the chances of a rebound remain high. However, the moving average crossover has not completely canceled the death cross pattern, which will fully confirm the breakout.

The fundamentals of Solana are rising.

While the overall market trend has affected the price of Solana, some fundamentals of its underlying ecosystem also act as significant catalysts for the coin.

As U.Today mentioned earlier, Grayscale Investments is working to promote the issuance of a Solana ETF, with plans to attract more institutional investments.

In addition to rising prices, the open interest in Solana is witnessing a tremendous increase, with more market makers widely adopting the currency. The revival of the Solana meme coin is also on the verge of returning, as major innovations and the growth of decentralized applications accelerate.$BTC $XRP $ETH #GT