Ethereum

Convergence

Cryptocurrency

Solana

Bitcoin

<ul class="wp-block-list">
 <li><strong>Solana price has factored in a modest price increase of 1.23% in the past day.&nbsp;</strong></li>
 <li><strong>The altcoin’s daily trading volume has dipped by 21.63% as per CMC data.</strong></li>
</ul>
<p>Cryptocurrency yet again finds itself on the road to recovery, after yesterday’s market crash. The overall market cap shows a mild price increase of 1.33% while the trading volume still&nbsp; remains on the negative. Leading cryptocurrencies such as Bitcoin and Ethereum attempt to regain previous trading levels by combatting key resistances.&nbsp;</p>
<p>Notably, one of the leading altcoins, Solana has factored in a 1.23% price increase in the past day. This reflects the cryptocurrency’s struggles to re-establish the previous bull run. In the Asian morning hours of December 11, SOL was trading at a high of $216.25. However, following this, it dipped further to an intra-day low of $203.21.&nbsp;</p>
<p>Moreover, the market crash caused by increased liquidations caused SOL to fall from a high of $237 to the $218 support level. The altcoin, after falling close to $200, has failed to test $220 in the past day. At the time of writing, SOL was trading at $218.49, according to CMC <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">data</a>.&nbsp;</p>
<p>When stepping back, on to the altcoin’s weekly chart it shows a descending trend. Solana, in the last 7 days has incurred an 8.89% price drop. This has pulled the token from its $238 high to current levels. It is also notable that Solana recently hit its ATH during the AltSeason triggers at the end of November.&nbsp;</p>
<h3 class="wp-block-heading" id="h-what-do-technical-analyses-suggest-for-solana-price-nbsp">What Do Technical Analyses Suggest For Solana Price?&nbsp;</h3>
<p>Inferring Solana’s 4-hour price chart, its price movements indicate a descending channel pattern. This shows that the cryptocurrency is currently facing a bearish pattern and suggests further declines. Additionally, the bull power indicator value – 2.16 and the bear power indicator value, -3.98 further corroborate this analysis.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXefxFpvik8hpAK2rh4IVo2vwUSMpc9m-8QXpVCViajijoqskSSF7UcgKANrk_ZO5p7XtCcYjIKcjQRyYdcgWRs9uJXKHRCHyBWXbrYp-WlZILVwGrbDCmDh7jBDzfl_-QUbly0HJw?key=AeTZkv5N_8pxNwH9JjrY1KVS" alt="">
  <figcaption class="wp-element-caption"><em>SOL/USDT 4H Price Chart (Source: </em><a href="https://www.tradingview.com/symbols/SOLUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow"><em>TradingView</em></a><em>)</em>
  </figcaption>
 </figure>
</div>
<p>Secondly, the Moving Average Convergence Divergence (MACD) signal line stands below the MACD line. However, the signal line recording recent price activity has moved closer to a crossover. This indicates signs of recovery as presented by the charts on TradingView <a href="https://www.tradingview.com/symbols/SOLUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">data</a>.&nbsp;</p>
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> will hit $4,000, based on this cup and handle pattern! <a href="https://t.co/dXZLI9urOh" rel="noopener noreferrer nofollow">pic.twitter.com/dXZLI9urOh</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1866610535971819992?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 10, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
<p>Moreover, market analyst Ali has also predicted from its monthly chart, that Solana might hit $4000 as indicated by its cup and handle pattern. Other altcoins such as <a href="https://thenewscrypto.com/xrp-price-action-shows-technical-weakness-as-regulatory-discussions-continue/" target="_blank" rel="noopener noreferrer nofollow">XRP</a> and <a href="https://thenewscrypto.com/stablecoin-issuer-tether-mints-2b-usdt-on-tron-and-ethereum/" target="_blank" rel="noopener noreferrer nofollow">Tron</a> have also begun sparking bullish candles.&nbsp;</p>
<p><strong>Highlighted Crypto News Today:&nbsp;</strong></p>
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Solana Shows Recovery Signs Attempting to Reclaim Bull Run

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