SOL cryptocurrency trades up $0.329, approximately 1.58% higher this afternoon

Tentatively higher from an earlier low of $20.67, SOL is up to $21.18 today, adding $0.329, or 1.58%, to today's closing price of $20.85.

Solana made an initial breakout above its 10 day Simple Moving Average at $21.17, a potential indicator of a newly emerging bullish phase. SOL's lower Bollinger Band® is at $19.93, indicating that the market is oversold and fertile for new buyers. On the other hand, note that Solana could be slowing down soon as it approaches resistance at $21.19. Of course, crossing it might suggest further gains are ahead.

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: FTX Token is up 9.54% to $1.36. Litecoin goes up 4.32% to trade around $83.74. Bitcoin Cash gained 2% and is now trading at $115.36.

Having soared to a high of $58.81 approximately 11 months ago, SOL is now trading 64.54% lower. SOL is currently trading with a market cap of 8.38 billion with an average daily volume of 398.26 million.