Biggest Movers: SOL, TRX Nearly 10% Higher, as Crypto Prices Marginally Rebound

SOL was nearly 10% higher on Thursday as crypto prices rebounded following recent losses.

Solana (SOL)

SOL was trading higher in today’s session, spurred by the latest Federal Reserve rate hike.

After hitting a low of $28.46 on Wednesday, SOL/USD surged to an intraday peak of $35.71.

In today’s action, SOL hit a new five-day high, making prices appear to have bottomed out following the recent price decline.

Overall, SOL is still down nearly 25% from this same point last week and this momentum may continue through next weekend.

As of this writing, SOL is trading $5 lower from today’s peak, indicating that despite today’s rebound, bearish sentiment still exists in the market.

If the pressure on the Bears continues, SOL could not only break below $30, but head for multi-year lows below $26

TRXalso traded higher in Thursday’s session as bulls re-entered the market and pushed prices up from recent lows.

Traders pushed TRON up to an intraday peak of $0.06529, which was nearly 10% higher than yesterday’s low of $0.05412.

The pair hit its lowest level in more than a year on Wednesday, but regained momentum on the strength of the U.S. interest rate change.

Like the SOL, overall sentiment still lurks in bearish territory, even as bulls stole momentum on Thursday.

At the time of writing, the{84 Relative Strength Index is just above 30, but the 35 level is a resistance point.

Image credits: Shutterstock, Pixabay, Wiki Commons