Biggest Movers: SOL Hits 6-Week High, Following US Inflation Data – Market Updates Bitcoin News

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SOL climbs to 6-week high, as ETC climbs for fourth straight session.

Solana moved to a six-week high on Wednesday, as markets reacted to the latest inflation figures from the United States. The consumer price index fell to 5% in March, lower than the 5.2% sum many had expected. Ethereum classic also moved higher, nearing a multi-week high.Solana extended yesterday’s 15% gain on Wednesday, as the token rose for a fourth straight session.

SOL/USD raced to an intraday high of $24.34 earlier in today’s session, which comes a day after the price was at a low of $22.42. Following today’s surge in price, SOL move to its strongest point since February 21, when it traded at a high of $24.71.Looking at the chart, Wednesday’s rally came as solana bulls took the token beyond a key resistance level of $24.00.

One of the catalysts for this breakout was the 14-day relative strength index , which moved beyond a ceiling of its own at 64.00. At the time of writing, the index is now tracking at 66.65, which is marginally below a higher resistance level of 68.00.

 

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can someone explain why solana has such a rapid rise in price? oo

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We’re going to 50$.

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