Solana Price Skyrockets to +20%, Eyes $122 Anytime Soon

High-performance blockchain Solana (SOL) is now on fire after having its price pump to almost +20% in the past seven days. This performance of the crypto gathered a 24-hour trading volume of more than $2.4 billion. As a result, traders and investors in and out of the crypto space are now monitoring the performance of the crypto.

Based on the graph above, SOL continues to move within the Arnaud Legoux moving average (ALMA), a bullish trend. This position of the crypto enables its investors to trade in confidence. Furthermore, if SOL is able to maintain its position above the ALMA indicator, the price of SOL may be able to break its resistance level of $106. If it does, the doors towards the bullish price of $122 will open, an opportunity that SOL must not overlook.

However, if the price of SOL trades below the ALMA indicator, the price of SOL might break out from its uptrend position. Indeed this is an event that will not be favored by the investors and the community of the network.

On the other hand, SOL has successfully generated a great price pump lately. If Solana is able to cast a price pump as good as this once again, the bullish price of $122 or higher may come to life anytime soon. But of course, this price forecast of SOL still depends on the bullish market and the behavior of its investors in the network.

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