The Solana price has secured 45% appreciation over the last week. The coin made this significant recovery after its yearly low of $8 in December. Over the last 24 hours, the coin fell by 1.6%, which depicted that SOL was consolidating after a period of an explosive rally.
As Bitcoin continued to recover, major altcoins also noted northbound price action. The technical outlook for the coin has also pointed towards bullish strength mounting on the chart. Accumulation has been substantial, and demand for the coin has shot up over the last week.
At the moment, the altcoin was inside the overbought zone, meaning buyers had taken over the market completely. After a rally, a coin usually faces a correction, and the Solana price might be