The Excitement Surrounding Solana’s Price Surge
The crypto market is filled with excitement as Solana has witnessed a significant surge in price, prompting both enthusiasm and caution among investors.
Gambardello and Martinez’s Insights
According to popular crypto analysts Dan Gambardello and Ali Martinez, the recent surge in Solana’s price has caught the attention of many investors.
- Gambardello, known for his insightful market analysis, warned investors to trade carefully despite the bullish momentum.
- Meanwhile, Ali Martinez, always up with his price analysis tweets, talked about Solana’s bullish outlook. He noted that the invalidation of the TD sell signal on the daily chart indicated further potential for price growth.
- Previously, Martinez had predicted a similar scenario in December, where the invalidation of the TD sell signal led to a 70% surge in Solana’s price before the next sell signal.
SOL Price Surge and Network Activity
The notable increase in network activity is the most significant factor fuelling the surge in Solana’s price. Solana’s prices have surged by almost 25% since Friday and reached the $207.
The most significant evidence of the increased network activity is the number of daily active wallet addresses on the Solana network, which have crossed 1.8 million accounts.
As a result, the increased network activity has also affected the daily fees on the Solana blockchain, which has risen to $4 million, marking a substantial 754% monthly increase.
Trading volumes on Solana have also witnessed a significant uptick, surpassing $3.8 million, which is 430% more than that in February.
As Solana continues to capture the attention of investors with its impressive price surge and network activity, Gambardello advises investors to approach the market cautiously.
