The price has recorded a significant pump of 79.06% in the last 30 days.
Solana recently found support at $38.34 after failing to clear above the $45.4 mark.
Solana (SOL) is retaining its increasing pace as it surpasses Polygon (MATIC) in daily decentralized exchange (DEX) volume. According to recent statistics compiled by blockchain analytics platform Artemis, Solana now outpaces Polygon in terms of both daily transactions and total DEX volume. Compared to Polygon’s $137.4 million, Solana’s DEX volume was roughly $240.4 million yesterday.
Solana definitely generated one of the highest gains, increasing 30.57% during the last 7 days. Moreover, the price of SOL last week was up 80% from where it started the month. This is because Solana has been gaining traction among developers, who now see it as a serious alternative to Ethereum.
Bulls Back in Action
The price dropped by almost 11% yesterday in the face of intense selling pressure after failing to clear above $45 level. At the time of writing, SOL is trading at $42.19, up 10.52% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is down 32.63%. The price has recorded a significant pump of 79.06% in the last 30 days.
Source: CoinMarketCap
The price recently found support at $38.34 after failing to clear above the $45.4 mark. However, the bulls are eyeing to break above this recent high. If the price manages to go past $43.8 level then it will likely test the $45.4 level. Price is expected to test the $46.8 level if it breaks above this level. However, if the price falls below the $38.34 mark, then $35.9 might be tested as support. Further decline will likely result in price testing $34.4 support level.