Monero [XMR], Solana [SOL], and their redemption journey post 16 May

ambcrypto.com:

Unlike Crypto OGs, newbies and paper hands in the crypto space are not familiar with the popular saying “with hardship comes ease”. 

With FUD at an all-time high last week following crypto markets correction, the price of Bitcoin and several other altcoins plummeted.

However, last weekend was marked with a retracement as most cryptocurrencies attempted a recovery.  Solana’s SOL and Monero’s XMR were among the best performers as they recorded intraday trading highs on 16 May.

Recording a high of $174 during 16 May’s trade, a 19% increment was marked from the $146 price index recorded by XMR on 13 May. Similarly, at an intraday trading high of $58, SOL recorded a 13% price spike from the $51 marked on 13 May.

However, before investors become joyous, a closer look at performance in the last 24 hours is pertinent.

With a 4% spike in price recorded in the last 24 hours, an SOL token sold for $56 at the time of writing. Comparatively, in a 7-day window period, the coin declined by 19%. However, with a crypto market retracement underway, a speedy recovery is expected. 

Source: CoinMarketCap

Following a similar progression was the token’s market capitalization. At $18,913,459,121 at the time of press, the market cap recorded a 3% spike in the last 24 hours.

Furthermore, although below the 50 neutral region, the RSI and MFI appeared to be in an uptrend at press. A further push into the neutral region can be expected as the momentum looks favorable. 

Source: TradingView

After trading at a low of $128.00 on 15 May, XMR on Monday (16 May) hit an intraday high of $174. Although this was followed by a retracement, in the last 24 hours, the price of the token rallied by 3% leaving the price per Monero token at $170.17 at the time of press. 65%