SOL cryptocurrency trades up $1.14, approximately 5.23% higher going into tomorrow

Tentatively higher from an earlier low of $21.71, Solana is up to $22.87 today, adding $1.14, or 5.23%, to today's closing price of $21.73.

Solana made an initial breakout above its 50 day Simple Moving Average at $21.85, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $22.7 currently serving as resistance. If broken, the next Fib hurdle is expected to be $23.33. Despite this, Solana's upper Bollinger Band® is at $24.05, this is a slight indication of a slowdown. Although Solana is appreciating today after rising as high as $23.03, price action is now slowing and consolidating around 53 cents below the $23.4 resistance level.

According to technical analysis, it looks as if SOL likely to continue pointing upward in the short term.

SOL shows positive signs, other assets are also on par: FTX Token gained 9.54% and is now trading at $1.36. Having closed the previous session at $1,877.66, Ethereum is up 6.3% today to currently trade at around $1,996. TRON rises 2.35% to trade around $0.071.

SOL is now trading 73.28% below the significant high of $81.32 it set around 11 months ago. Solana is currently trading with a market cap of 9 billion with an average daily volume of 451.48 million.