Solana price analysis: Bulls are on the move once more, pushing SOL to a $25.34 peak

Solana price analysis is going bullish for today as it reveals that the price has been following an upward movement since yesterday, as the bulls have constantly been striving for the lead. Bulls have finally dodged the ongoing bearish trend as the coin was on the decline previously.

Timeline of Solana

Solana – a crypto that's otherwise known as SOL to its personal holders – continues to shed value given it's so tied to the fallen crypto exchange FTX and its disgraced head executive Sam Bankman-Fried. Solana Isn't Doing Too Well FTX is currently in the process of filing bankruptcy.

Solana (SOL) recovered from the slight pullback yesterday, even when the general crypto market cap dropped today. SOL which has been on an uptrend in the past week saw a 28.44% increase during this time.

Solana price analysis for January 20, 2023, reveals the market following a partial bullish movement; moreover, Solana has obtained massive positive momentum, signifying a decline for the SOL market. The price of Solana has remained negative over the past few hours.

The solana price is down by 1% today, having dropped to $21.03 in the past 24 hours. Its current level represents a 26% increase in a week and a 71% surge in the last 30 days, with the layer-one cryptocurrency compensating for some of the steep losses it incurred last year.

Solana tokens with its exhilarating flight in the past is under the active consideration of investors and traders. Howbeit, the steady downswing has been heart-wrenching for not one but many. Blockchains are the backbone of cryptocurrencies. Thus, if you want to develop your currency, you must improve your Blockchain technology.

As the cryptocurrency market struggles to sustain its bullish momentum that started at the turn of the year, Solana (SOL) is no exception, and crypto traders and investors are looking at indicators to try and predict its price for the future period.

Bitcoin continued to trade above the $20k mark, and each passing hour reinforced the idea that a move upward to $22k was more probable than another dump toward $19k. Monday's low at $20.6k served as support, and any lower timeframe deviations beneath this level have been a buying opportunity in the past two days.

SOL's price has surged 114% so far this year, slowly recovering from losses from early November. Crypto traders and analysts are navigating the prospects for the Solana community.

The Solana (SOL) price has seen a significant rally of over 79% in the past 30 days, despite the recent crisis on FTX and Alameda.  According to current crypto price oracles, SOL is currently trading around $21.33, down approximately 6.1%. Since hitting lows of $7.

Solana price analysis is showing signs of bearish activity, as the bears have returned back to the price charts. After spiking high earlier, the price went down during the last few hours, but the bulls also managed to escape the bearish pressure at some points.