Ethereum (ETH) competitor Solana (SOL) has weathered the broader decline in the cryptocurrency market amid a new integration with Binance's Web3 wallet.
Crypto assets, which rank fifth by market capitalization, rose more than 5% over the past 24 hours, compared to the overall cryptocurrency market capitalization, which fell 3.8% over the same period, according to CoinGecko.
Binance He says Web3 Wallet users can now trade SOL and access a host of upcoming dapps and airdrops.
However, some cryptocurrency analysts believe that Ethereum's rival is poised for a correction.
Earlier this week, Ali Martinez Tell His 52,700 followers on social media platform The trader expects SOL to rebound to the $127-152 range.
The TD Sequential indicator is typically used to identify a potential turning point for an asset's price.
SOL is up more than 23% in the past week, nearly 52% in the past month and more than 62% since the beginning of the year. Despite these price gains, it is still down approximately 32% from its all-time high of $259.96, which it set in November 2021.
SOL is trading at $177.72 at the time of writing.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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