Solana (SOL) technical analysis:
Trade setup: After dipping as low as $12, price has rebounded and broken back above $15 and now $20 resistance and 200-day moving average. This could signal a trend reversal, with upside potential to $25-30 resistance zone.
Trend: Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $15, then $12. The nearest Resistance Zone is $20 (previous support), then $25 – $30.
Trade setup: After dipping as low as $12, price has rebounded and broken back above $15 and now $20 resistance and 200-day moving average. This could signal a trend reversal, with upside potential to $25-30 resistance zone.
Trend: Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish but inflecting. MACD Line is above MACD Signal Line and RSI is above 55 but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum is weakening.
Support and Resistance: Nearest Support Zone is $15, then $12. The nearest Resistance Zone is $20 (previous support), then $25 – $30.