Solana broke above the key resistance at $126 and in the process made a new local high. In the following, we take a look at a few technical indicators that might provide some insights into why SOL’s price is up today.
Key Support levels: $126
Key Resistance levels: $163
The resistance at $126 was overrun by buyers today and they managed to turn it into a key support. If this level holds, then the next target is found at $163. Since Solana just made a higher high, the price action is bullish.
Chart by TradingView
Today’s volume reached levels not seen since January and turned the momentum indicators bullish. With buyers back in control of the price, Solana has a good chance at higher levels.
Chart by TradingView
The daily MACD made a bullish cross after some hesitation yesterday. This confirms the bullish bias and sets the stage for Solana to move to the next key target at $163, as long as buyers keep this momentum.
Chart by TradingView
The post Why is the Solana (SOL) Price Up Today? appeared first on CryptoPotato.
The Cardano Foundation has urged the European Commission not to broaden the Markets in Crypto-Assets…
Matt Crosby, a research director at Look Into Bitcoin, said in a recent interview that…
Cardano could be heading toward a fresh wave of adoption as market analyst Lana Valentis…
XRP bulls may have a reason to smile after a sharp surge in on-chain transaction…
TL;DR: Technical documentation for the proposed LendingProtocolV1_1 amendment describes closed-ended vaults with defined subscription and…
TL;DR: Technical documentation for the proposed LendingProtocolV1_1 amendment describes closed-ended vaults with defined subscription and…