The Solana (SOL) market has been struggling lately. The sixth largest cryptocurrency has done a good run throughout the past year, but has only fallen. The all-time high of a rise to $294.33 was a major highlight for the SOL market, but subsequent revisions were unfavourable. Recently, Altcoin has fallen to a low of $96.59. The drop caused immense confusion among investors, below $100. The assets are slowly beginning to gain a pace, but the community hopes to witness major changes in the coming days.
Solana Kickstarts Recovery Phase rises by 3% every day
At the time of writing, Solana was trading at $118.21. This comes after a 3.18% increase over the past 24 hours. Just early this week. Sol fell below the $100 mark. Assets skyrocketed 22% during this period.
In this, Cryptocurrency Exchange FTX is creating news to unlock most of Solana. Recent reports show that the currently decommissioned exchange has unlocked its SOL of about $21 million. After a month’s move, LookonChain data on April 11 showed that FTX/Alameda unlocked an additional 186,326 SOL tokens. This was valued at $21.5 million. The unlock coincides with creditor refund activities planned for May 30th.
Price forecast
According to Concodex data, all Solana are set to encounter slight increases from current price levels. AltCoin is expected to rise 7.11% on April 19th, with a high of $126.99. On April 20th, Sol witnesses the increase again, but it is smaller than the previous day. The asset will trade at $125.90, following 6.22% from its current price level. The magnitude of this rise is incompatible, but it will confidently boost the Sol market.
