Solana Price Prediction as SOL Tops Altcoin Fund Inflow with $13.6 Million Last Week – Is SOL the New Investor Favorite?

cryptonews.com:

The Solana price has dipped by 3% in the past 24 hours, dropping to $54.67 after Binance’s settlement with the US Department of Justice sent the entire market lower yesterday.

SOL is now down by 8.5% in the past week, yet the altcoin remains up by 26% in the past fortnight and by an impressive 84% in the last 30 days.

It has even risen by more than 400% since the beginning of the year, and with Solana continuing to top the leaderboard for altcoin fund inflows, it will likely see further gains in the coming weeks.

Compared to many other tokens today, SOL’s chart and indicators continue to look relatively healthy, even with yesterday’s slip.

Its RSI (purple) is already close to 60 again after dropping overnight, suggesting that buying pressure remains with the altcoin and is likely to continue climbing soon enough.

It’s also encouraging that SOL’s 30-day average (yellow) is still climbing above than its 200-day average (blue), a sign that the coin is likely to continue pushing towards higher levels for the foreseeable future.

There are other positive signs, including the coin’s 24-hour trading volume, which remains high at $2.5 billion.

It’s likely that much of this increased volume stems from funds, which have shown a growing demand for SOL over the past few weeks.

Indeed, SOL witnesses the highest weekly fund inflows of any altcoin, with the latest CoinShares report showing that it attracted $13.6 million in fund inflows last week.