Solana Price Prediction as $800 M

The high-performance blockchain-powered cryptocurrency Solana (SOL) with a smart contract saw more than $830 million in trading volume on Thursday. This is according to the Token Terminal data encryption analytics platform. This was the highest trading volume known to the currency since two weeks after Wednesday, which in turn (February 15th) recorded a trading volume of 850 million dollars.

The rise in volumes comes as Solana makes sharp strikes on either side of the 21-day moving average (DMA) at $23.0. The cryptocurrency was recently trading around $22.80 per coin on Friday, up about 2.5% on the day, but down about 5% against Thursday’s weekly high above $24. This week Solana could not match the achievements of its main competitor Bitcoin and Ethereum.

On Thursday, Bitcoin managed to reach its highest levels in eight months at $25,000 while Ethereum managed to reach its highest levels since last September at $1,700. Since then, both have retreated from these highs. Meanwhile, Solana was unable to test its recent highs at $26.00, after failing to convincingly break above the 21DMA and amid selling pressure ahead of the 200DMA, which now sits at $25.24.



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