ICYMI: according to TradingView, the rapid price increase of $NEAR and $SOL could have been caused by purely technical reasons Solana SOL
As for market performance, the explosive growth behind the token is more likely caused by the short-squeeze that was due to an overwhelming number of short orders on the market. The sudden appearance of buying power caused a cascade of liquidations. that showed less impressive but still significant growth on the market. The Ethereum killer was able to return back above the $100 threshold and reached the local resistance line at $105.
The long-term performance of Solana, unfortunately, has been far from positive as the asset lost almost 60% of its value from the current ATH of $261. On the positive side, the downfall of the coin has slowed down significantly as it trades in the descending rangebound since the end of January. At press time, SOL trades at $104.
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