Solana Price Prediction as Daily Trading Volume Shoots Past $1.7 Billion – Are Whales Buying?

cryptonews.com:

The Solana price has suffered a minor 0.3% fall in the past 24 hours, slipping to $111.96 as the crypto market as a whole gains by 1.5% today.

Despite its lack of movement today, SOL remains up by 7% in the past week and 22.5% in the last 30 days, with the altcoin also having gained by 370% in the past year.

And with the coin’s trading volume rising to $1.7 billion over the past few days, it seems to be regenerating the momentum necessary for further gains.

After dipping over the past few days, it’s possible that SOL is ready to rebound a little in the first half of this week.

Its relative strength index (purple) has inched up to 60 after dropping close to 55 over the weekend, a reversal which signals that some traders are taking the opportunity to buy the coin at a relative discount.

SOL’s 30-day moving average (yellow) also continues to rise beyond its 200-day (blue), while its current price is climbing above both.

This is a clear sign that the token remains in an expansionary phase and that, even with its recent dip, its overall trajectory remains upwards in the medium- and long-term.

It does indeed seem that its volume is picking up again, with some recent signs that whales are buying the token.