Solana and Tron Price Record Slow Growth, Will Bulls Hold The Forte? ⋆ ZyCrypto
The post Solana and Tron Price Record Slow Growth, Will Bulls Hold The Forte? ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Crypto assets are trading sideways after attempting a narrow recovery following last week’s free fall. Despite slight whale inflows, Solana (SOL) and Tron (TRX) are among the struggling altcoins. Digital assets crashed alongside United States tech stocks after the Chinese AI platform DeepSeek launched. On a positive front, analysts have projected a recovery in the coming weeks. Solana’s Daily Inflows Still Under Waters Solana’s weekly losses have been reduced to 10% as bulls want to move the asset into the green zone. The asset trades at $240, a 4.8% gain in the last 24 hours, while trading volumes move sideways. The asset’s market cap hovers above $117 billion slightly amid a bull effort for higher ground. Solana’s institutional funds made slight gains after Donald Trump’s inauguration, turning up investor confidence. Last week, SOL funds attracted $6.8 million, taking monthly inflows to $23.6 million, which was described as a bright start to the year. Several analysts also tipped institutional inflows to push Solana out of the doldrums. Last year, the asset recorded consecutive inflows, earning the tag of an institutional favorite. The price downtrend also impacted Solana meme coins, a major catalyst for the asset during price upticks. SOL meme coins have continued a steep decline for the second consecutive week. With over $2 billion wiped from the market cap, total assets stand at $18.2 billion. Assets, including Official Trump, BONK, and POPCAT, are down over 20% in the last seven days, although daily numbers have gained momentum. “The POPCAT/SOL chart shows a downtrend, with the price recently finding support around $0.37. The moving averages are aligned bearishly, indicating continued downward pressure. MACD is showing a potential bullish crossover, but RSI remains neutral, suggesting consolidation may continue before a clear direction is established,” Gemxbt wrote on X. Advertisement…
Filed under: News - @ January 30, 2025 11:27 pm