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U.Today - Solana (SOL) is eyeing a dangerous breakthrough since it fell below the $60 support zone on Nov. 20. At the time of writing, Solana is at a price of $58.21, up 2.36% in the past 24 hours. The core Solana metrics are bullish and suggest recapturing the $60 price level is imminent in the near term.
Since Solana was rejuvenated this year, its price has been on a meteoric rise that saw it push past the psychologically on Nov. 15. Bears did not allow Solana to form a support above this threshold, and as such, it lost its grip and retraced back to a low of $51.6 on Nov. 22.
The attempt to reclaim $60 has become a key hurdle that SOL bulls have been unable to work their way past in recent times. With the current outlook and resolve as showcased in the 6.64% jump in trading volume to $1,374,937,101, a consistent increase in the trading volume is a sign retail investors are flooding the market. Notably, their presence can help stabilize the price as SOL makes an attempt to reclaim its lost mandate.
Solana is to the pangs or negative impacts of the FTX implosion, and though the bankrupt exchange continues to sell off the coin in its liquidation spree, Solana has made a that naturally attracts other liquidity to it.
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