• In recent times, the Solana price has seen a considerable upwards push, breaching important resistance levels.
• Over the last 24 hours, SOL has rallied close to 20%, and in a week’s time, the altcoin has appreciated close to 40%.
• Market capitalization of Solana has increased, trading at a 90% discount to its all-time high, which was secured in 2021.

The cryptocurrency market has been experiencing considerable growth in recent times, and Solana (SOL) is no exception. Over the last 24 hours, SOL has rallied close to 20%, and in a week’s time, the altcoin has appreciated close to 40%. This has caused the coin to breach important resistance levels, with SOL now trading at a price of $25.

The increase in price has also caused the market capitalization of Solana to increase, with the coin now trading at a 90% discount to its all-time high, which was secured in 2021. This has been part of a larger trend in the crypto market, as Bitcoin’s price has remained above $20,000 and other altcoins have followed suit by showing positive price momentum on their respective charts.

The technical outlook of Solana has indicated a bullish sentiment, with accumulation remaining high on the chart as demand for the coin has been at a multi-month high. This could present buyers with buying opportunities, as SOL may retrace on its chart and then rise again.

However, the chart also reveals that as the coin has been overbought, it will eventually witness a price correction. As such, it is important that investors remain cognizant of the potential risks associated with investing in cryptocurrency and make sure to conduct the proper research before making any investment decisions.