SOL cryptocurrency trades up $1.15, approximately 6.37% higher this afternoon

SOL went up to $19.26 only to drop back to some of the way and is now trading at $19.2.

Solana made an initial breakout above its 50 day Simple Moving Average at $18.54, a potential indicator of a newly emerging bullish phase. Solana formed a session range of $17.91 to $19.26 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $18.15. SOL has just crossed its upper Bollinger Band® at $18.55, suggesting further gains could be on the cards. On the other hand, note that SOL reversed direction at $18.52 resistance zone and retreated back 68 cents below it.

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

SOL shows positive signs, other assets are also on par: Bitcoin Cash is up 21.15%. Litecoin is up 19.72%. EOS is up 11.1% to $0.753.

10 months ago Solana reached a significant high of $46.6 but has consequently lost 61.26% since then. SOL is currently trading with a market cap of 7.68 billion with an average daily volume of 363.64 million.