- SOL has been on a bullish trend for three consecutive days.
- A positive bullish trend indicates further gains towards $13.
- Technical indicators show that SOL has the potential to go higher.
As the price trend has been moving upward for the last three days, the bulls are currently in control of the SOL market. The cost of Solana rose to $11.04 as a result of the rise in demand.
Indicating significant buying activity, the market cap surged by 12.62% to $4,046,010,183, while the 24-hour trading volume likewise rose by 9.02% to $281,949,622.
The trading sessions of the previous three days have led to an upward break for the price function of SOL. The market is still being controlled by the bulls as it was yesterday. Price levels increased at the start of today’s trading session as bulls continued to dominate.
The Technical Rating indicator’s “strong buy signal” shows that SOL’s rising trend is likely to continue. The Solana market’s optimistic trend is supported by the technical ratings, which currently have a positive rating and are in the positive region.
The trading sessions of the previous three days have led to an upward break for the price function of SOL. The market is still being controlled by the bulls as it was yesterday. Price levels increased at the start of today’s trading session as bulls continued to dominate.
The Technical Rating indicator’s “strong buy signal” shows that SOL’s rising trend is likely to continue. The Solana market’s optimistic trend is supported by the technical ratings, which currently have a positive rating and are in the positive region.
According to the Solana price analysis, the bulls are still dominating the upward area. SOL’s price at the time of writing ranged from $9.62 to $11.04, with the coin trading at the higher amount. This demonstrates that prices have risen more than 12.6% in the past day. Additionally, the relative strength index (RSI) indicator, which is currently at 41.31 and is edging closer to the overbought region, suggests that the prices may consolidate at the present levels before a breakout.
The swollen Bollinger Bands are a sign of increased buying activity. The market is rising above both zones, a sign that bulls are becoming more powerful and adding to the current positive market sentiment. When the top band reaches $15.08 and the bottom band reaches $9.7, a probable bullish trend can be seen.
The fact that SOL is trading above the 100 SMA on the daily chart suggests that the upward trend will persist. Additionally, the currency’s price is higher than its 200 SMA, indicating that investors remain confident about potential increases in the near term. The Relative Strength Index (RSI), which is at 41.31, indicates that neither overbought nor oversold conditions exist right now.
Bollinger Bands are growing and rising on the 4-hour price chart, indicating a rise in market volatility. The $10.58 higher limit and $9.05 lower limit of the Bollinger Bands indicate a positive view. Price movement that is above the upper band provides additional support for this bullish trend.
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