After five days of declines, Solana is up $0.406 today

SOL goes up to $17.73 after dipping down to $16.12 earlier.

Solana made an initial breakout above its 3 day Simple Moving Average at $17.51, a potential indicator of a newly emerging bullish phase. Solana's lower Bollinger Band® is at $16.69, indicating that the market is oversold and fertile for new buyers. In contrast, Solana could be slowing down soon; it is getting close to the resistance line and is now at $18.56, only 84 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.

Solana continues to move higher with technical analysis indicating the trend will continue in the short term.

Other markets are also showing gains as FTX Token jumps 9.54% to trade around $1.36.

Meanwhile, after ending today's session at $76.78, Litecoin lost $5.67 and is trading around $71.11. TRON is trading around $0.057 (down $0.002).

Over the past 11 months, Solana has retreated 87.34% from a noteworthy peak of $136.78. Solana has a market cap of 6.79 billion with an average daily volume of 540.73 million.