Solana was up by as much as 20% on Friday, as the token rebounded following recent declines. The token which dropped by over 50% earlier in the week, surged today, as traders seemingly bought the dip earlier in the day. However, sentiment has since shifted following the news that FTX has declared bankruptcy. Polygon was a notable gainer, climbing by as much as 16% prior to the news.After falling to a low of $15.06 on Thursday, SOL/USD surged to an intraday high of $18.68 earlier in the day.
SOL was one of the most impacted tokens following the recent collapse of FTX and Alameda, however traders seem to have found an opportunity to buy the dip. Still, Friday’s gains have largely been wiped out, as news of FTXLooking at the chart, earlier gains have somewhat eased, as the relative strength index of 14 days neared a ceiling.In order for SOL to climb closer to $28.00, which seems to be the target of bulls, this RSI ceiling must be broken.
This appears to be a result of the RSI holding firm, with recent momentum not enough to break a ceiling of 57.20. The index is now at 53.10, and seems to be moving towards a floor of 51.60, which could lead to MATIC moving back below $1.00.Tags in this story
I think the project will recover in the near future, so I continue to spend usdt to buy the bottom
Its a bulltrap
People are spending USDT on SOL
Next week 1$
Safuu
Dead cat bounce.
Fantastic! I have recently started using ChiefraFba for signals, his accuracy is INSANE!
yea!
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