Things are proving to be very promising for Solana (SOL) as the trading price of the asset has been pumping higher.
The Monday session marked a new milestone for Solana after a long time, which helped in significantly increasing the trading price of the asset.
Solana Experienced 11% Surge
As per the market data, the Monday trading session for Solana was much better than the other major cryptocurrencies.
Their prices kept fluctuating and the investors were not able to push the trading prices of the major assets into the upward zones.
Just as things remained negative for the overall crypto market, the situation was quite promising for Solana. Its price has continued elevating throughout the past week and the recent trading session was also a major success.
The report shows that in the past 24-hours, the trading price of SOL recorded an over 11% surge. The strong push saw the trading price of SOL make it up to the multi-month high.
From $24.04 to $26.93
The performance analysis data shows that on Sunday, the trading price of SOL was hovering in the lower trading zone. Its trading price was at a low of $24.04 on Sunday.
However, the trend became bullish on Monday and things became quite favorable for the bulls as the hours passed.
It was during the day when the trading price of SOL managed to hit its peak price of $26.93. This was a strong push in favor of SOL that set it on the right track, bringing in more support from the bulls.
The confidence level of the investors has surged after the price of SOL hit $26.93. They are hopeful that the asset’s price would continue pumping and it will go on to reach higher levels in the next few sessions.
The recent high SOL has hit is the highest level it has hit since November 8. It was in the month of November when the trading price of Solana was able to make it up to a high of $31.78.
It is for the first time since then that the trading price of SOL has moved to a high of $26.93.
Luckily for Solana, it is the fourth straight session where the price of Solana has continued moving higher. According to the analysis report, SOL was expected to hit a resistance level at $26.00.
However, the strong buying sentiments of the bulls were able to make things interesting for the trend. They managed to make it past the particular level and it is expected that SOL may soon cross the $30 mark.