Solana (SOL) has moved up by 9% in the last week, with its market cap climbing past $100 billion. However, its trading volume fell 34% recently. Positive signs such as CMF and a golden cross indicate bullish momentum, but holding the $211 support is crucial to avoiding correction.
The CMF for Solana shows positive buying pressure at 0.23, down slightly from 0.33. This slight decrease might indicate a slowdown in buying momentum, suggesting either a holding pattern or consolidation phase.
Meanwhile, the Average Directional Index (ADX) shows a solid uptrend for SOL, with market confidence shown by the +DI and a rising ADX to 45. However, reduced bullish momentum hints at possible stabilization ahead.
Maintaining the $211 support is key for Solana's future trajectory, with $203 as the next defense line if support weakens. The EMAs are currently bullish, hinting at potential gains to $246 if momentum holds.
