Along with other cryptocurrencies like ביטקאָין and Ethereum, there was another altcoin סאָלאַנאַ which also got submerged into the bearish momentum. This public Blockchain platform started its downward movement on Aug 13, 2022. Moreover, the altcoin dropped to $8 on Dec 29 after the collapse of FTX.
However, as the world entered the year 2023 the digital assets began their recovery phase and so did the Solana. As of now Solana has managed to spike nearly 225% since its downfall.
At the time of writing, Solana is selling at $24.44 after a surge of 1.40% over the last 24hrs.
Meanwhile, a well-known crypto analyst and trader Chris Burniske believes it’s a mistake if any trader or investor gets overly bearish towards Solana. Chris Burniske who is a former crypto lead at Ark Investment is of the opinion that though Solana has reversed from its local resistance area, the altcoin still has some hope for a breakthrough.
Solana To See A Price Gain ?
Moreover, the analyst compares the weak Ethereum/Bitcoin pair to the Solana/Ethereum pair which is much stronger. While he compares the analyst states that there is a risk in the market yet yesterday’s pull back will continue for a longer time.
Source: https://coinpedia.org/altcoin/stop-being-bearish-on-solana-price-urges-former-ark-invest-crypto-lead/