SOL, the fifth-largest token by market capitalization, reclaimed the $100 level, erasing the price drop when the Solana network suffered an outage of five hours. It was recently changing hands at $102, up 5% over the past 24 hours.
"Solana printing a shaded squeeze area," Wick said on Thursday. "This usually warns up of an extreme move incoming."
While other major cryptocurrencies mostly lagged behind SOL and BTC, the outlook for the broader altcoin market looks bullish as late last year's frothy sentiment reset."
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