Solana Surges 9% Today: Is a Reversal Underway?
Investors in Solana (CRYPTO: SOL) have experienced some of the most significant volatility in the cryptocurrency sector over the past four months. The world's seventh-largest token is down more than 65% over this time frame.
Indeed, that's saying something, considering the collective decline of around 50% for all digital assets over the same time frame. What drives the market higher can also lead to greater downside during marketwide sell-offs, such as the speculative/AI-linked sell-off we've seen in recent months. Solana does not appear to be an exception in this regard.
That said, as of 3:00 p.m. ET, Solana has recovered 9% from its most recent bottom (over the past 24 hours), signaling to some investors that a reversal may be underway. Let's dive into that idea and see if there's solid evidence to confirm such a move.
Source Fool.com
