Crypto analytics platform Santiment says that the heavily bearish sentiment revolving around Solana (SOL) could push the price of the Ethereum (ETH) competitor up.
The market intelligence firm says that the fear, uncertainty and doubt (FUD) surrounding Solana could trigger the smart contract platform to rally until the heavily bearish sentiment reduces.
“There are not a lot of big Solana believers, even as its price bottomed out at $11.02 and rebounded to $12.70 over the past 15 hours. This FUD could cause more rebounding until traders slow down their nearly unanimous bets against SOL’s price.”
Source: Santiment
Solana is trading at $13.33 at time of writing.
On the bearish sentiment across the wider crypto industry, Santiment says that capitulation events in the past have usually led to a rebound in prices.
“The word dead has been rapidly circulating around crypto platforms in November. As one of the more bearish sentiment words, this is a sign of traders giving up on markets
We współpracy z: https://dailyhodl.com/2022/11/24/top-ethereum-rival-is-now-flashing-bullish-signal-according-to-crypto-analytics-firm-santiment/
