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<ul class="wp-block-list"> 
 <li>Solana has factored in a 3.23% price drop over the last 24 hours, while Bitcoin surged to a new ATH.</li> 
 <li>The altcoin’s daily trading volume surged by 42.30% as per CMC data.</li> 
</ul> 
The global market has been on a daily upward scaling period this week. In the last 24 hours, Bitcoin has hit yet another all-time high propelling other cryptocurrencies along the ride. Its current ATH is $107,780 as per data aggregators’ reports. Meanwhile, the FTX exchange has recently announced dates for its replacement plans.&nbsp; 
Meanwhile, despite other surging altcoins, Solana price has witnessed a brief dip over the past day. It factored in a 3.23% price decrease and fell to the $214 level. It also briefly hit a support of $212 before bouncing back to current levels. At the beginning of the day, it was trading at $221.56, after which it decided to rebel against the bull market.&nbsp; 
Zooming out to its weekly chart, Solana price shows a modest descent of 0.76%. This indicates the briefness of the bearish takeover further inspiring speculations for a change of pace. SOL, at last week’s beginning, was trading at similar levels having hit a snag with the overall market crash.&nbsp; 
However, following that, SOL staged bullish trends to reclaim its previous trading levels. It tested a weekly high of $234 but failed to increase prices. At the time of writing, SOL was trading at $215.26 as per CMC <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noreferrer noopener nofollow">data</a>.&nbsp; 
<h3 class="wp-block-heading" id="h-will-solana-price-recover-soon-nbsp">Will Solana Price Recover Soon?&nbsp;</h3> 
Analyzing Solana’s price actions in the past few days, shows a Horizontal channel pattern. This pattern is known to refer to a price consolidation when both bullish and bearish candles are at the same level. This channel might be followed by both a price breakout or descent.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf2sFu5LMysmD3eP6A9nyk-zuP6vAKPRQPSbvfj4CKEZhfaSPPh0dB3fe96V_gjiouzJasOV8imwEIQpewiat9AOF0o_YPswpU3FpvDeaSc4gmM5qbku29gea-1Y1Pe1ojGgyA6Ow?key=_4Qtim1-7WbWFwrbguSsvrJi" alt="">
 <figcaption class="wp-element-caption">
 SOL/USDT Daily Price Chart (Source: <a href="https://www.tradingview.com/symbols/SOLUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div> 
Inferring its technical indicators, the Moving Average Convergence Divergence (MACD) signal line stands below the MACD line. This suggests the negative trend that is currently found in Solana price actions.&nbsp; 
However, its long-term bull power indicator value is 5.06 as per TradingView <a href="https://www.tradingview.com/symbols/SOLUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">data</a>. Its bear power indicator value standing at -4.13 suggests that the altcoin still holds a window of opportunity to stage a bull run. 
Meanwhile, other altcoins such as <a href="https://thenewscrypto.com/analyst-projects-xrp-market-cap-to-reach-1-2t-a-deep-dive/" target="_blank" rel="noreferrer noopener">XRP</a> and <a href="https://thenewscrypto.com/bnb-approaches-triangle-pattern-climax-as-market-eyes-new-all-time-high/" target="_blank" rel="noreferrer noopener">BNB</a> have experienced upward movements in the past 24 hours.&nbsp; 
Highlighted Crypto News Today:&nbsp; 
<a href="https://thenewscrypto.com/can-ethereum-reclaim-4500-before-year-end/" target="_blank" rel="noreferrer noopener">Can Ethereum Reclaim $4,500 Before Year End?</a>

Solana Price Traverses Downwards While Bulls Drive Crypto Market

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