• Solana (SOL) has broken above $24 and escaped a previous downtrend.
• The current price action is bullish, with sustained buy volume pushing the price higher.
• RSI and MACD indicators suggest further price increases are possible, potentially reaching $30.
Solana Price Analysis
Solana (SOL) recently broke above $24, escaping the previous downtrend and signaling a major move higher. The current price action is bullish, with sustained buy volume pushing the price higher.
Key Support & Resistance Levels
The key support levels for SOL are currently at $21 and $24. If another push occurs above $26, it will open the way for the price to reach $30 next.
Trading Volume & Technical Indicators
The trading volume in the past four days has allowed Solana to move higher. Additionally, RSI is making higher highs and inches closer to the overbought area above 70 points while MACD painted a bullish cross yesterday, signaling that a major move higher becomes more likely.
The bias for SOL is currently bullish.
With renewed momentum coming back to Solana after a short correction period, it appears that the price is ready for further gains.
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