Solana (SOL) price has seen a 12% surge, breaking through resistance zones due to technical strength like bullish EMA positioning. However, challenges arise as traders evaluate SOL's ability to maintain this momentum and hold key levels.
The positive BBTrend value suggests continued support, but a decline from 9.01 to 8.08 hints at waning momentum, which may lead to increased resistance and potentially a sideways movement.
While the ADX reading of 34 indicates a strong uptrend, narrowing DMI indicators suggest weakening buyer momentum and increased selling pressure, possibly leading to a more volatile market.
SOL's EMA lines point to an upward phase, but short-term EMA downtrends could signal a bearish change. A "death cross" event may indicate a trend shift. Support levels at $144 and $133 are critical for stabilization, while potential resistance at $161 and $193 could result in notable gains if bullish momentum resumes.
