Solana Gleams 30% In Last 7 Days As SOL Bulls Try To Break $21 Barrier
It’s been a stellar week for Solana and its native token, SOL, with the price jumping about 30% in the last seven days.
As of this writing, SOL is trading at around $18.84, having gained 6.4% in the last 24 hours. The SOL bulls are now trying to break the resistance just above $21.
As an investor, it’s a smart move to keep an eye on SOL, given its consistent performance and recent, impressive run.
So, what has propelled the SOL bulls on their upward trajectory? Let’s explore a few possible reasons.
Increasing Mainstream Adoption
The Solana community has worked hard to make its blockchain more user-friendly, with a focus on mainstream adoption. Over the past few months, they have achieved noteworthy partnerships with popular companies like Chainlink, Avanti, and WazirX.
These announcements have been encouraging investors to invest in SOL, and it’s reaping results.
Analysts and Influencers Bullish on SOL
As expected, industry analysts, traders, and influencers have been quite bullish on SOL, with many calling for a price appreciation of 100% or more by the end of the year.
The recent developments in the platform have certainly backed their optimism, and it’s likely to have a positive impact on price in the near term.
Conclusion
In conclusion, SOL has made remarkable progress in a very short time, and with new partnerships, more APIs and DeFi integrations, and increased investor confidence, it’s clear that the velocity of the SOL bulls won’t slow down anytime soon.
So, if you haven’t already, now’s the time to invest! Just remember to do your homework, manage your risk and diversify your portfolio.
Happy investing!
