Solana’s native token (SOL) gained 5.5% on Dec. 13, reclaiming the $72 support level. Over the past four days, it experienced a 16.7% correction, dropping from a high of $77.80 on Dec. 9 to a low of $63.75. The question is whether the factors driving this recovery will continue to support recent gains.

FED announcement and regulation talk fuel Solana’s rally

The rally in SOL was fueled by three factors, in addition to the U.S. Federal Reserve’s announcement on Dec. 13 of three interest rate cuts throughout 2024. Reduced returns on fixed-income investments are typically seen as bullish for risk-on assets like cryptocurrencies.

SOL token performance in USD, 12-hour chart. Source:… Read more on Cointelegraph