Ethereum

Solana

Bitcoin

Rise

Divergence

<ul class="wp-block-list">
 <li>Solana trades at $244, gaining over 2.80%.</li>
 <li>Solana has experienced $14.86 million in liquidations over the past 24 hours.</li>
</ul>
Bitcoin (BTC) crosses above the $98K mark, setting a new all-time high at $98,342. The BTC rally has altered the altcoin market, causing major assets, except Ethereum (<a href="https://thenewscrypto.com/why-is-ethereum-eth-stalling-at-3-1k-while-bitcoin-surges/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>), to gain momentum. Among them, Solana has broken through its crucial resistance above $230.&nbsp;
Notably, the altcoin has a moderate spike of 2.82%. With a $116 billion market cap, Solana <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">trades</a> at $244.81. The intra-day trading price of SOL is noted at $237. Later, the asset has climbed to the current trading level.&nbsp;&nbsp;
Meanwhile, Solana has witnessed a 24-hour liquidation of $14.86 million, as per Coinglass <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">data</a>. Consequently, the daily trading volume of SOL has reached $7.72 billion.&nbsp;
Inferring the weekly price chart, Solana has recorded a 13.20% gain. The asset began <a href="https://thenewscrypto.com/will-solana-sol-keep-up-bullish-trend-or-slip-for-a-pullback/" target="_blank" rel="noopener noreferrer nofollow">trading</a> at the downside—$215.63. As days progressed, the altcoin gained momentum and jumped to a high of $248.19.&nbsp;
<h3 class="wp-block-heading" id="h-can-sol-rise-above-bearish-pressure">Can SOL Rise Above Bearish Pressure?</h3>
The ongoing market <a href="https://in.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3ASOLUSD" target="_blank" rel="noopener noreferrer nofollow">sentiment</a> of Solana rests in the neutral zone, as the daily relative strength index (RSI) is found at 57.66. In addition, the daily frame of SOL displays the short-term 9-day moving average beneath the long-term 21-day moving average.&nbsp;
SOL’s four-hour price chart pointed out the downside correction. The current trading momentum has the potential to pull the price back to the nearby support level of $232.57. If the price plunges even deeper, SOL might slip to a low in the $225 range.&nbsp;
On the flip side, where the bullish momentum retrieves its lost strength, SOL could likely mount to the $253.71 mark. Further upside correction might drive the price of Solana even higher. Moreover, The asset is just 6.96% away from hitting a new all-time high at $260.06.&nbsp;&nbsp;
In addition, Solana’s technical indicators exposed the current bearish momentum, inferring the Moving Average Convergence Divergence (MACD) line. It is perhaps positioned below the signal line, indicating the forthcoming downtrend within the market.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXft7CAvytPD0XY4NA4akfcLI7ZsmNEyqJC5MVEWk3To5LEF4cwAqg19Ug5z4fhBJWupYSkY7R5wMi91LDgRQqW67T3Tk177GxNwn3SM5_o2kBAGROQavVj3IYgHfbjkVK8a2eR0?key=HqqaavYGMv-rD5z-Yeg7Ql5u" alt="">
 <figcaption class="wp-element-caption">SOL chart (Source: <a href="https://in.tradingview.com/symbols/SOLUSD/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
The Chaikin Money Flow (CMF) indicator is found at 0.03 suggesting a brief positive money flow, which also highlights a possible spike in demand ahead. In the meantime, the daily trading volume of SOL has soared by over 17%.&nbsp;&nbsp;
Highlighted Crypto News&nbsp;
<a href="https://thenewscrypto.com/why-is-ethereum-eth-stalling-at-3-1k-while-bitcoin-surges/" target="_blank" rel="noopener noreferrer nofollow">Why Is Ethereum (ETH) Stalling at $3.1K While Bitcoin Surges?</a>

Can Solana (SOL) Break Past the $260 Mark?

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