Solana (SOL) has seen a significant price increase, rising 8% in the last 24 hours and 21% over the past week. Its market cap now nears $130 billion, surpassing major companies like Sony. Trading volume has also surged nearly 19%, reflecting strong market activity.
Technical indicators such as the Ichimoku Cloud and BBTrend suggest a bullish trend, with potential resistance at $292 and $300. However, consolidation signs imply a possible halt in momentum. Support levels stand at $229 and $211 in case of a price reversal.
The SOL Ichimoku Cloud indicates bullish sentiment, with the current price above the cloud. The BBTrend, though down from a peak, remains positive, hinting at potential upward movement if buying pressure increases.
While SOL could reach $300, traders should watch for trend changes and support levels at $229, $211, and possibly $192 if momentum wanes further.
Source: beincrypto.com ↗