SOL cryptocurrency trades up $0.63, approximately 3.37% higher this afternoon

Tentatively higher from an earlier low of $18.59, SOL is up to $19.34 today, adding $0.63, or 3.37%, to today's closing price of $18.71.

Solana made an initial breakout above its 3 day Simple Moving Average at $18.74, a potential indicator of a newly emerging bullish phase. Price action remains constrained around the key Fibonacci level of $19 currently serving as resistance Solana has crossed the upper Bollinger Band® at $19.33, a potential sign that further gains are to follow. In contrast, SOL could be slowing down soon as it approaches resistance at $18.89. Of course, crossing it might suggest further gains are ahead.

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

10 months ago Solana reached a significant high of $46.6 but has consequently lost 59.85% since then. SOL has a market cap of 7.75 billion with an average daily volume of 357 million.