Solana (SOL) has experienced a price increase of more than 5% in the last 24 hours, pushing its market cap to around $117 billion. Despite this short-term rise, technical indicators present mixed signals. The Ichimoku Cloud suggests uncertainty, and the BBTrend remains negative.
SOL is consolidating between $225 and $239, with EMA lines close together, indicating indecision. Whether SOL breaks out toward $272 or faces downward pressure will depend on crucial technical confirmations.
The Ichimoku Cloud setup presents a mixed outlook, with the price around the Kijun-sen and Tenkan-sen lines. A bearish sentiment may develop if the price remains below these lines.
The BBTrend shows negative momentum, with recent shifts indicating bearish pressure remains strong. The direction SOL will take depends on whether EMA lines confirm a golden cross or show more weakness.
Source : nl.beincrypto.com ↗