- Solana and Jupiter did not witness a deep retracement despite a flurry of selling.
- JUP, in particular, showcased firm bullish belief in the short-term.
Solana [SOL] surged toward $200 once more as meme coin trading activity surged in March.
The rise in unique addresses ensured demand for the network, which could see the token rally past $209, the local high, in the coming weeks.
Jupiter [JUP] climbed toward its ATH at $2 and has a strongly bullish outlook. With Bitcoin [BTC] back above the $70k mark, buyers have reason to be excited.
Solana’s pullback was far shallower than expected
The 12-hour chart showed that the market structure of SOL remained bullish. The recent swing low posted at $105 early in March is the level bears need to beat to flip the structure in their favor.
At press time, the odds of this happening anytime soon were minimal. The RSI did not drop below neutral 50 even when BTC prices fell, unlike many other large-cap altcoins.
The OBV was slowly recovering, but has not made new highs recently.
The trading volume diminished in the second half of March, even though prices recovered from the dip to $160. This suggested that the bullish convicti
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Author: Akashnath S
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