With Bitcoin exceeding the all-time high price level, Solanaa high price increase was also noted in (LEFT).
A Serious Price Increase Was Recorded During The Day
SOL, the local token of the Solana network, gained an upward momentum on October 21, when investors shifted their focus from the leading crypto currency BTC to altcoins. The LEFT showed a high price performance, recording a significant increase in value and rising above the 190 dollar levels. The price level of $ 194 recorded by Solana was the highest recorded since September 11. Following this upward movement LEFT, making some correction movement, it again fell to the 181 dollar price levels.
The Increase in Bitcoin Has Also Affected Altcoins
On October 20, Bitcoin exceeded the all-time high price level, as well as price increases in the altcoin market were triggered. For example, Ethereum (ETH), which recorded a value increase of more than 7% on October 20, rising to $4,170. It is the second largest crypto currency in terms of market capitalization Ethereum, While on October 21, it surpassed its all-time high and reached $4,360. Since its new peak, ETH has declined to $4,140 price levels with an average depreciation of only $200. Bitcoin, on the other hand, made a correction of more than 3.5% and fell below $ 65,000. As a result, the ETH/BTC parity increased by more than 5% and reached 0.06289 BTC.
Similarly, SOL’s performance against the US dollar over the past two days has been better than Bitcoin. This means that SOL/BTC increased by more than 8% on October 21 to 0.0026772 BTCit caused him to reach the.
Technical Appearance on the LEFT
The value increases that Solana has recorded in recent days have emerged as a move out of the consolidation channel that has been going on for some time. The LEFT began to consolidate in the August-September period, after an increase of more than 200%, it remained horizontal for some time. However, with these upward price movements that it does LEFT, breaking the horizontal channel upwards and gaining an upward momentum again.
Analysts say that the critical support point for the LEFT is the 145 dollar levels, and if the rise continues, it is quite critical that Solana should maintain this 145 dollar level during short-term corrections in order to exceed its former peak.
At the time of writing, the LEFT, CoinMarketCap according to its data, it is trading at price levels of $ 181 with a market capitalization of $ 55.4 billion.
The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.