Watch These Three Things as SOL Explodes 7% Despite Network Crashes and Restarts (solana Price A)
After a brief pullback, Solana broke back below key resistance. Will it break?
Key Support levels: $78
Key resistance levels: $104, $126
1. Basic Resistance Under Pressure
The $104 resistance is the only thing preventing buyers from pushing Solana much higher. Sellers are starting to show weakness and the bulls have a good chance of breaking above this level.
Chart by TradingView
2. Is Exit near?
Over the past three days, buyers have dominated the chart and closed each daily candle in the green. Another move today could see Solana break resistance quickly. The momentum is also in the bulls’ favor.
Chart by TradingView
3. MACD Increase Rate
Following the bullish trend at the end of January, the daily MACD is breaking higher again on its histogram. If this continues, a breakout looks imminent. The RSI is also above 50 on the daily time frame, which favors the bulls.
Chart by TradingView
Prejudice
The trend for SOL is upward.
Short Term Forecast for SOL Price
A break above $104 seems likely. If buyers turn this level into support, SOL will have a clear path higher, with the next major target being $126.
It is worth noting that all of the above happened despite the massive outage on Solana’s network yesterday.
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Cryptocurrency charts from TradingView.
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