SOL Shows 'Diamond Hands Energy' After Flipping $80, Eyes $90 Like It's Owed Money

Solana has decided to stop scrolling through its phone in despair and rejoin the ongoing market rally, forming a new bottom around the $80 price mark and now eyeing the $90 resistance mark with the confidence of someone who finally remembered their password to a wallet they thought was empty. This uptick comes as the digital currency confirmed the formation of a golden cross on a lower time frame, setting up a basis for a stronger rally in the short term. Turns out Solana wasn't dead—just napping.

According to data from CoinMarketCap, every visible Solana metric is having what can only be described as a glow-up. Solana volume has jumped by more than 88% in the past 24 hours as total SOL traded in dollar terms surpassed $6 billion. For context, that's enough trading volume to make market makers dust off their old "Solana is fast" pitch decks and pretend they never doubted anything. This volume shift shows more interaction with the asset by market traders as a broader shift in the industry shows a relief rally is underway, and nobody wants to be the guy who missed the bottom again.

Market data suggests a golden cross formation has formally been logged by Solana. This golden cross appeared on the four-hour chart as the short term 9-day moving average has crossed above the longer-term 21-day average. Technical analysts are now casually nodding and drawing more lines on charts, which we all know is the universal signal that things are getting serious. The last time this happened, people made a lot of money, but we'll see if history has a sense of humor this time.

The shift in Solana comes following the price bottoming at a daily low of $78.43. At the time of writing, the digital currency is now changing hands for $84.67, up by 5.43% in the past 24 hours. That's not quite "to the moon" energy, but it's more "to the parking lot" energy, which is still an upgrade from "to the basement." The Solana price has faced many bearish triggers in the past few months, shown by its more than 71% drawdown from its all-time high of $294.33—a fall so dramatic that even Solana's Discord mods stopped posting "wen moon" memes.

Solana is not the only altcoin that has seen a similar relief rally. As of writing time, Ethereum has hit a multiweek high of $2,251, up by 5.83% in the past 24 hours. $XRP has rallied