While large-caps such as BTC and ETH are seeing impressive gains Solana is raising eyebrows by rising more than 9.26% in the previous 24 hours
The cryptocurrency market has begun the week positively, as bullish momentum resumes. While large-caps like Bitcoin and Ethereum are witnessing excellent increases, Solana is turning eyebrows, up more than 9.26% in the last 24 hours.
However, Solana (SOL) is not the only cryptocurrency making waves; the eco-friendly eTukTuk project has seized the market’s favorable feelings. Specifically, it has raised $2.4 million from its continuing presale.
This rise has allowed the token to reverse all its losses from last week. Especially those that occurred during Friday and Saturday’s sell-off. The increasing momentum shows no signs of slowing.
On the 4-hour chart, SOL has surpassed its 20-day exponential moving average (EMA), overcoming a significant technical obstacle.
With buyers entirely in control, SOL is now targeting resistance at $190. A breach may pave the way for much more upside.
Spot trade volumes have increased, fueling the boom.
Over $3.4 billion worth of SOL has changed hands on exchanges in the previous 24 hours alone. That sum exceeds the spot volumes of prominent cryptocurrencies such as Dogecoin and Binance Coin within the same period.
SOL’s increased volumes indicate an astounding 50% increase above the previous day’s activity. The issue now for traders is how far this rebounding bullish momentum will lead SOL in the coming days.
