Volatility rates have increased somewhat as the market approaches the end of the quarter, but the bulls appear unconvinced of the upcoming rally. As a result, the Bitcoin price remains hovering around $70,000 and is unlikely to trigger a major bull run in the coming days. Meanwhile, altcoins such as Solana, Litecoin, and Pepe are showing tremendous strength. In particular, SOL price is approaching critical resistance, which could open the way to $250.
In the long term, SOL price remains within a bullish range and is poised to recover losses above $200. Bulls largely dominated the rally, although trading volume fell from more than 12 million to less than 6 million. As a result, SOL price appears poised to record a strong close this quarter, which could set the stage for a strong close in April ahead of the Bitcoin halving.
SOL price has been showing ample strength since the token triggered a bounce from its lows. The bulls appear to be facing some disruption from key resistance near $200. Moreover, the bulls are rallying above the pivotal support line, which suggests that a new uptrend could begin any time from now. However, before the bullish orders, the stochastic RSI appears to be showing a final decline in favor of the bears. ostrich
Read more: Litecoin surpasses $100 ahead of quarter close. Has the race to $200 just begun?
Overall, Solana’s price is still influenced by bulls, while weakness may continue to hinder rallies frequently. The upcoming bearish action may push the levels from $182 to $185, but may not allow them to fall below $180. Therefore, if SOL price withstands temporary bearish pressure, the path towards $250 could become more viable. This could also set the path for $300 as the cryptocurrency market is set to begin a new bull market following the Bitcoin halving.