Solana And Ethereum Recover After Registering Double-Digit Gains

Ethereum and Solana especially galloped up on their charts significantly in the last 24 hours. Bitcoin had also reclaimed the $40k price mark at the time of writing therefore major altcoins followed a similar price movement. The massive attack on Wormhole which is an eminent bridge protocol between Solana and Ethereum caused ETH to lose close to 8% while depreciating SOL by double-digits. At the time of writing, Solana was seen trading for $109.18 after SOL was parked below the $100 mark yesterday. Ethereum was seen changing hands for $2953.03 and could soon eye the $3000 price level with continued bullishness in the market. Buyers for both the asset resurfaced at press time, pushing the coins near the overbought zone. Related Reading | Bitcoin Leverage Ratio Suggests More Decline May Be Coming Solana Price Analysis: Four/Hour Chart Post dropping from the $100, Solana reclaimed the aforementioned price level and registered a sharp recovery of about 12%. Overhead resistance for SOL rested at $131.58, while, a push below the current price level will make the coin trade at $102.27. The technical outlook of Solana was quite bullish at the time of writing. Additional price floor awaited at $156.43 while support region stood near $96. The price of the altcoin was seen parked above the 20-SMA line. This reading indicated that sellers were responsible for driving the price momentum of the asset in the market. The Relative Strengt...