The digital asset market has started the week with a rather surprising rally. Among those benefitting, Solana (SOL) has emerged atop the pack with its trading volume surging almost 70%. Moreover, the asset leads the entire crypto market in terms of its biggest gainers to start the week.
The asset is up almost 10% over the last 24 hours, according to CoinMarketCap. Moreover, it’s currently trading at $193 and is inching toward the very important $200 mark. The cryptocurrency has recently flipped a key resistance level that could pave the way for a continued ascension throughout this week.
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Solana (SOL) Bounces Back, Leads Monday Market Rally
The digital asset market has seen tremendous gains throughout March. Bitcoin led the way, reaching an all-time high of $73,000 in the middle of the month. However, a steep price correction took place last week, with assets coming back down to reality. However, that has proved short-lived, with a Monday market rally arriving in full force.
One of the networks that benefited from this month’s meme coin mania has led the pack today. Specifically, Solana (SOL) is leading all gainers, as its trading volume has surged nearly 70% and leads all crypto. The development is crucial to its continued climb back above the $200 mark.
Also Read: Solana Officially Jumps Ethereum in DEX Volume
That feat may be a matter of time at this point, with the asset growing its value by 89% over this month. Moreover, its recent ascension has flipped a key resistance level into a support. Subsequently, some crypto analysts are predicting a continued SOL rally that culminates in a $250 price point.
Because of the massive surge in Solana’s network, the conversation has shifted to a potential all-time high for the asset. Throughout March, Solana has surpassed Ethereum in a plethora of key daily and weekly metrics. Furthermore, the previous record mark of $260 for SOL could be in jeopardy.
Altogether, the token’s continued growth will depend on its maintained resilience in the market. However, the sentiment of the industry has always had an impact on price, and the current perspectives couldn’t be more positive. With the Bitcoin Halving Event set to arrive next month, a host of assets are set to face impressive gains through the second half of April.