Solana's price is under scrutiny as bulls work to thwart bearish forces, maintaining above the crucial $240 support level. This point serves as a pivotal market sentiment indicator, marking a defensive line for buyers keeping the uptrend alive. Successfully defending this level could amplify market confidence and trigger a rally.
The resilience of Solana bulls has been remarkable, as they strive to surpass the $260 mark, suggesting a bullish control shift. The 4-hour Simple Moving Average indicates a bullish trend with Solana remaining above it, and the Relative Strength Index rising to 60%, pointing to increased buying interests.
A breach above the $260 resistance level could indicate further upward momentum, fueling continued trader optimism and potential market gains.
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