Solana: Is this the only reason behind SOL's bull rally? Unravelling...
A look at Solana’s daily chart shed some light on what went in SOL’s favor. The Exponential Moving Average Ribbon displayed a bullish crossover as the 20-day EMA flipped the 55-day EMA. The Relative Strength Index and Money Flow Index increased over the last few weeks, which might have helped Solana push its price upwards.Solana’s on-chain metrics, however, told a different story, as most of them remained negative during the last week.
Moreover, SOL’s social dominance registered a decline, which indicated less popularity of the token in the community. However, SOL’s four-week price volatility increased drastically, as the token’s value skyrocketed.Subscribe to get it daily in your inbox.
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