Solana (SOL), price, has been focusing on this goal since day 1.
- Solana’s price is extremely bullish
- Prices climbed aggressively up to $47
- Key resistance to the SOL/USD pair found at $49.5
SOL has been extremely bullish since the surge to $47. Since a few days the bulls are consistent in orchestrating an upward trend.
Solana shows uptrend signals despite correction
SOL prices spiked to $48.4 yesterday due to stubborn resistance. This was a temporary spike, and the price quickly returned to the previous level. The SOL/USD currency pair is moving incrementally, it should be noted. At $49.5, the next resistance is seen for the pair.
SOL is currently trading at $47, a remarkable uptrend on a 1-day basis. The SOL/USD price pair has dropped by 0.4% in 24 hours.
Based on CoinMarketCapSOL/USD is in correction. As of press time, it is trading at $44.34, which is a decrease of 5.65%. SOL volume total has increased by 42.05%, currently standing at $1,372,667.870. Solana’s price also recorded a profit of 18.93% as seen in the past couple of days as the price has been on an uptrend.
SOL has seen volatility rise as a result of the divergence in Bollinger bands, which suggests that there will be more volatility over the next few days. Bollinger’s upper band can be seen at $47, with active trading exceeding that price. The lower Bollinger band, at $36 marks, is indicative of the strongest support for SOL. The mean average can also be seen at $41.7, just below the MA at 43.1.
RSI SOL at index 64 is prominent now and it is trading upwards. This indicates a solid spin in buying pressure. SOL’s overall outlook is very positive.
SOL price to retest $49.5
The chart, which is 4-hours in fame, shows that today’s price breach was bullish. After a retracement, the trend appears to have remained upwards for approximately 16 hours. There was some notable pullback at SOL in the past 4 hours, even though bulls gained more control.
TradingView.com Chart
On the 4-hour chart the volatility is at its highest point. Bollinger bands expand and indicators indicate that there may be a breakout upwards.
The coin’s resistance is located at $48.3, which is right above the key support at $41.5. RSI can be spotted near index 68, which indicates a rise in buying pressure.
The SOL price is likely to test the $49.5 resistance area in the coming hours.
Source: TradingView.com| Source: TradingView.com Featured Image from Altcoin Buzz. Chart from TradingView.com
