Defying the general market’s lackluster price movements, SOL’s price has climbed by 10% in the past 24 hours. Its trading volume within that period represents its highest in three months.The Layer 1 coin traded at $26.38 at press time. In the last 24 hours, the altcoin’s trading volume has surged significantly by over 100%. With a trading volume of $813.
The Elder-Ray Indicator – which measures the strength of competing groups of bulls and bears – was in an uptrend as of this writing. Conversely, when this indicator trends downward, it indicates that market participants have become bearish. At press time, SOL’s Elder-Ray was 1.268, maintaining its uptrend.
Moreover, the alt’s Parabolic Stop and Reverse indicator – which identifies potential reversal points in an asset’s price direction – showed that buying activity outpaced sell-offs among daily traders.