Solana (SOL) is on the way to its positive trajectory and experiencing surge in its price with the overall market after several weeks of market volatility triggered by macro factors. Sol has made the recent resistance into support and taking a move for next major journey. Both traders and investors and closely watch this zone to get maximum bonus from the journey.
At the time of writing, SOL is trading at $145.86, with a 24 hours trading volume of $3.82B and a market capitalization of $75.69B. The SOL price over the last 24 hours and over the last week is slightly bullish but over the last month its price is significantly up by 36% and showing signs for next major journey.
Source: CoinMarketCap
Solana (SOL) signals bullish reversal with triple bottom
A crypto analyst highlighted that Solana (SOL) has just flashed a textbook bullish reversal pattern. The pattern has named by the triple bottom. Having repeatedly bounced back from the key demand level of $118 to $125. SOL is now back above the level of $145—a strong indication of strength. This along with the Relative Strength Index rising above 60 is indicative of increasing bullish momentum. It has the potential to fuel the next leg.
Market focus will now transfer to the $165–$180 level, which has been labeled as the next significant supply zone. A clean spike above the level will have the potential to initiate a strong move higher, taking wider altcoins with it. SOL has been a historical trendsetter within the altcoin market.
Source: X
With its low-fee and high-throughput architecture, it presents itself as cheaper and quicker than Ethereum and has been attracting developers and investors to its growing network.
As technicals come into alignment and sentiment is firing up. Most are speculating about a Q3–Q4 rally similar to 2017’s explosive bull run. Seasoned owners and experts share the view that there is still so much fuel left in the tank.
