Although the digital asset market is facing a mild correction to start the month, Solana (SOL) has seen its trading volume increase by nearly 74% as April may be preparing for a new all-time high (ATH). Specifically, the asset has seen its volume surge as high as 73.9% over the last day according to CoinMarketCap.
That development has not had a profound impact on price yet, as the asset is down more than 2% in that time. However, it does reinforce the perspective of many experts who believe it could be in line for an April rally. Indeed, the impending arrival of the Bitcoin Halving Event only increases those chances.
Also Read: Solana Surge: Trader Turns 50 SOL into $531K in Just 48 Hours!
Solana (SOL) Volume Surges as Traders Anticipate New Highs
The digital asset market has continued its trend of high increases, with steady price corrections. A plethora of coins had skyrocketed to new heights in March, led by Bitcoin which reached $73,000 last month. That is expected to take place in April, as the industry anticipates the impending Bitcoin halving.
There is one asset that is poised to make a massive surge in those weeks. Indeed, Solana (SOL) has already seen its volume increase almost 75% as it may be preparing to reach ATH status throughout this month. Moreover, its current price correction could be a part of its ongoing journey.
Also Read: Solana (SOL): Up Another 40% in March; When Could it Hit $500?
Digital asset market analyst CryptoJelle took to X (formerly Twitter) to discuss the asset’s currency circumstance. Indeed, they noted its break of the “descending trendline” as well as the $195 resistance level. Moreover, they noted the confirmation of the price “as support on today’s flash dip.”
Furthermore, they noted their bullish perspective on the asset, anticipating further gains to $250 “soon.” That would put the asset ever closer to its all-time high of $260 set in November of 2021. The ongoing trajectory for Solana is only driven further by the impending Bitcoin event that will increase all assets across the board.
That could be the final deciding factor that increases momentum exponentially for Solana. As the rising tide lifts all boats, Bitcoin could bring about unprecedented gains from the digital asset that has already seen its network skyrocket in value throughout March. Specifically, its place in the meme coin craze has only increased its potential to surge in the next several weeks.
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Source: watcher.guru
