SOL cryptocurrency trades up $0.358, approximately 1.76% higher going into tomorrow

After closing at $20.64 today, SOL began today at $20.64 with significant bullish sentiment driving SOL's price action higher. So far today, price action has drawn out a distinct $20.5 to $21.13 range.

Solana made an initial breakout above its 10 day Simple Moving Average at $20.93, a potential indicator of a newly emerging bullish phase. Solana's lower Bollinger Band® is at $19.72, indicating that the market is oversold and fertile for new buyers. Despite this, SOL is 8 cents away from testing key resistance at $20.93. Peaking above this level could inspire market bulls and open the path to further gains.

Overall, looking at the technical analysis landscape, it seems SOL might continue pointing upwards in the short term.

Solana shows positive signs, other assets are also on par: FTX Token gained 9.54% and is currently trading at $1.36. Litecoin increases 4.14% to trade around $93.84. MaticNetwork USD gained 5.09% and is now trading at $0.888.

Solana has shed $35.78 points and is languishing 63.41% lower over the past year, leaving its yearly highs around $56.29 in the rear-view mirror. Solana has a market cap of 8.31 billion with an average daily volume of 369.35 million.