Solana trades at $18.13 after making its largest single-day jump

Solana jumps by 13.45% for its largest single-day gain since Mar 11.

Solana broke through the $16.41 resistance, climbing $1.71 above it. Solana made an initial breakout above its 21 day Simple Moving Average at $16.03, a potential indicator of a newly emerging bullish phase. Price action overcame a known Fibonacci resistance level at $17.28 by around $0.844 with prices hammering out a $15.91 – $18.18 session range. Solana has crossed the upper Bollinger Band® at $17.9, a potential sign that further gains are to follow.

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

Other markets are also showing gains as having closed the previous session at $225.23, Bitcoin Cash is up 7.44% today to currently trade at around $242. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Cardano improves 3.93% to trade around $0.278.

10 months ago SOL reached a significant high of $46.6 but has consequently lost 65.71% since then. Solana is currently trading with a market cap of 7.25 billion with an average daily volume of 343.51 million.