Solana Price Attempts Recovery
Solana price has stabilized around $195 despite a slight 2% drop, as on-chain activity cautions traders. The sentiment may be shifting to positive, with the price trading above $195.
Its daily trading volume has notably dropped 14%, indicating a slight plunge in trading activity. This shows that the crypto market may gain strength, pushing the market to a positive outlook.
After an intraday setback that put Solana’s price at $189, the altcoin is trying to break above $200. The bullish grip needs a stronger support at the immediate level of $195 to strengthen the chances of the expected movement.
Meanwhile,
Solana and its treasury company, DeFi Dev Corp, have acquired more than 86,000 SOL tokens, worth 9.57 million. The company is now holding a total of 2.19 million SOL, which is worth $426 million due to this recent acquisition.
Author's summary: Solana price attempts recovery above $200.