Solana Price Attempts Recovery Above $200
Solana price has stabilized around $195 despite a slight 2% drop today, 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.
No specific quote available in the text.
Author's summary: Solana price attempts to recover above $200 despite a drop in on-chain activity.