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April 05, 2023
After ending today at $20.93, Solana ascended as high as $21.31 before meeting resistance. Undeterred, Solana posted a fresh rally late in the trading session targeting $21.18.
SOL's notable support and resistance levels: Solana could be slowing down soon; it is getting close to the resistance line and is now at $21.36, only 18 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend and momentum analysis indicates that Solana made an initial breakout above its 21 day Simple Moving Average at $20.93, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Solana's upper Bollinger Band® is at $22.44, this is a slight indication of a slowdown.
Overall, the technical outlook suggests SOL is likely to remain muted for the immediate future, with no clear-cut direction.
Other markets are also showing gains as FTX Token leaps up 9.54% to trade around $1.36. Dogecoin is up 3.26% to $0.1. Ripple ascends 2.57% to trade around $0.516.
Solana is trading 84.33% lower compared to the $133.61 high it reached over the past year. SOL is currently trading with a market cap of 8.20 billion with an average daily volume of 486 million.
