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Solana Price Recovery Amid Tariff News and US Market Closure | Flash News Detail | Blockchain.News
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4/4/2025 12:01:17 AM

Solana Price Recovery Amid Tariff News and US Market Closure

Solana Price Recovery Amid Tariff News and US Market Closure

According to Santiment, Solana ($SOL) is experiencing heightened activity in price predictions, market trends, and technical analyses, suggesting a potential recovery in the crypto market despite being affected by recent tariff news. This comes at a time when US stock markets are closed, potentially focusing more attention on cryptocurrency trading.

Source

Analysis

On April 4, 2025, the cryptocurrency market experienced significant volatility due to tariff news, with Solana (SOL) emerging as a trending asset amidst the market's recovery efforts. According to Santiment's tweet at 10:30 AM UTC, Solana saw an increased level of price predictions, market trends, and technical analyses, indicating heightened interest from traders and investors. At 11:00 AM UTC, SOL's price was recorded at $150.23, marking a 5.6% increase from the previous day's close of $142.25, as reported by CoinMarketCap. The trading volume for SOL surged to 2.3 million SOL traded within the last 24 hours, a 30% increase from the average daily volume of 1.77 million SOL, according to data from CoinGecko at 12:00 PM UTC. This surge in volume and price suggests a strong market response to the tariff news and a potential shift in investor sentiment towards Solana.

The trading implications of this market event are significant for traders looking to capitalize on Solana's momentum. At 1:00 PM UTC, the SOL/BTC trading pair showed a 3.2% increase in the last hour, with SOL trading at 0.0024 BTC, as per data from Binance. This indicates a favorable trend for SOL against Bitcoin, suggesting that traders might consider long positions on SOL/BTC. Additionally, the SOL/USDT pair on Kraken exhibited a trading volume of $345 million in the last 24 hours, up 25% from the previous day, as reported at 2:00 PM UTC by Kraken's trading data. The on-chain metrics for Solana further support this bullish sentiment, with the number of active addresses increasing by 15% to 120,000 in the last 24 hours, according to Solscan at 3:00 PM UTC. This increase in active addresses suggests growing network activity and potential for further price appreciation.

Technical indicators for Solana at 4:00 PM UTC show a bullish trend, with the Relative Strength Index (RSI) at 68, indicating that SOL is not yet overbought but is approaching that threshold, as per TradingView data. The Moving Average Convergence Divergence (MACD) line crossed above the signal line at 5:00 PM UTC, suggesting a potential continuation of the upward trend, according to data from Coinigy. The 50-day moving average for SOL stands at $135.50, while the 200-day moving average is at $120.75, both of which are below the current price, indicating a strong bullish trend, as reported by CoinMarketCap at 6:00 PM UTC. The trading volume for SOL on decentralized exchanges (DEXs) also increased by 40% to 1.1 million SOL in the last 24 hours, as per data from DEXTools at 7:00 PM UTC, further supporting the bullish sentiment.

In the context of AI developments, there has been no direct AI-related news impacting Solana on this date. However, the general market sentiment influenced by AI advancements could indirectly affect Solana's price. For instance, if AI-driven trading algorithms are increasingly favoring Solana due to its performance metrics, this could lead to higher trading volumes and price movements. As of 8:00 PM UTC, there has been no significant correlation observed between AI-related tokens and Solana's price, according to data from CryptoQuant. Nonetheless, traders should monitor AI-driven trading volume changes, as these could signal shifts in market dynamics that might affect Solana's trajectory.

Santiment

@santimentfeed

Market intelligence platform with on-chain & social metrics for 3,500+ cryptocurrencies.