Gabung/ Daftar

Solana Faces Key Resistance Level, Breakout Appears Imminent

08/02/2024 17:31

According to CryptoPotato, Solana is back under key resistance after a brief pullback, with the $104 resistance level being the only obstacle preventing buyers from taking the cryptocurrency much higher. Sellers are starting to show weakness, and bulls have a good chance to break above this level. In the past three days, buyers have dominated the chart, closing each daily candle in green. Another push today could quickly see Solana break the resistance, as momentum also favors the bulls. The daily Moving Average Convergence Divergence (MACD) is making higher highs on its histogram after a bullish cross in late January, indicating that a breakout may be imminent. Additionally, the Relative Strength Index (RSI) is above 50 on the daily timeframe, which favors bulls. The bias for Solana (SOL) is bullish, and a breakout above $104 appears likely. If buyers can turn this level into support, SOL will have a clear path to higher levels, with $126 being the next key target. Notably, all of these developments have occurred despite the major downtime in Solana's network yesterday.

Bullish2

Kasar