Solana (SOL) has been performing exceptionally well in the Altcoin Market, experiencing a massive rally that has increased its price by over 25% in just one week. The breakout from the downtrend has been successful, bringing SOL close to the key resistance level of $25. If the momentum continues, the next target for SOL will be $28.
However, there is a significant resistance level at $30, which was the previous high from July. While Solana may have the strength to reach this level, it would be surprising to see it surpass it on the first attempt.
The bullish momentum for SOL has been sparked by a bullish cross on the 3-day Moving Average Convergence Divergence (MACD) indicator. This change in market momentum has led to a buying frenzy, and it is expected to last for a significant period before a significant correction occurs.
Overall, the bias for SOL is bullish, indicating a positive outlook for the cryptocurrency. In the short term, the biggest targets on the chart are $28 and $30, and Solana is likely to reach these levels. However, there is a concern about whether SOL will be able to sustain its price at these levels, as sellers have previously come in strong after the price hit $30.
It is important to note that the information provided in this content is the opinion of the writers quoted and does not represent the opinions of CryptoPotato. It is advised to conduct thorough research before making any Investment decisions and to use the provided information at your own risk..
#SOL #Exploded #Weekly #Key #Targets #Solana #Price #Analysis
However, there is a significant resistance level at $30, which was the previous high from July. While Solana may have the strength to reach this level, it would be surprising to see it surpass it on the first attempt.
The bullish momentum for SOL has been sparked by a bullish cross on the 3-day Moving Average Convergence Divergence (MACD) indicator. This change in market momentum has led to a buying frenzy, and it is expected to last for a significant period before a significant correction occurs.
Overall, the bias for SOL is bullish, indicating a positive outlook for the cryptocurrency. In the short term, the biggest targets on the chart are $28 and $30, and Solana is likely to reach these levels. However, there is a concern about whether SOL will be able to sustain its price at these levels, as sellers have previously come in strong after the price hit $30.
It is important to note that the information provided in this content is the opinion of the writers quoted and does not represent the opinions of CryptoPotato. It is advised to conduct thorough research before making any Investment decisions and to use the provided information at your own risk..
#SOL #Exploded #Weekly #Key #Targets #Solana #Price #Analysis
