Can Solana investors expect a further price pump? Refer to these metrics

Can Solana investors expect a further price pump? Refer to these metrics

April 12, 2023

By Dipayan Mitra

Read Solana’s [SOL] Price Prediction 2023-24

Solana’s price increased by over 10%, and the volume went up by more than 200%.

Market indicators and on-chain performance suggested a continued surge.

Solana [SOL] has been surprising investors with its massive gains over the last few hours. Solana’s price increased by more than 10% in the last 24 hours, making it the highest gainer among the top 10 cryptos in terms of market capitalization. At the time of writing, it was trading at $22.48 with a market cap of over $8.8 billion.

Can more gains be expected?

Investors can expect SOL’s price to pump further in the coming days as the market indicators were pretty bullish. For instance, SOL’s Relative Strength Index (RSI) registered a sharp uptick, which was a significant update for the buyers.

The Chaikin Money Flow (CMF) went up and crossed the neutral mark. The Bollinger Bands revealed that SOL’s price was taking an exit from a less volatile zone.

As per the Exponential Moving Average (EMA) Ribbon, the bulls, and the bears were in a battle to flip each other. Considering the rest of the indicators, it was very likely for the bulls to turn out victorious.