Solana (SOL) Touches Resistance Level – Will Bulls Prevail?

• Solana (SOL) revisits the $44 price point for the third time in 30 days.
• Bulls are persistent in gaining traction for Solana’s native coin.
• At the time of writing, SOL trades at the price of $46.9.

At the time of writing, Solana (SOL) trades at a price of $46.9 with a growth rate of 10% over the past 24 hours. It has a market capitalization of $16,330,562,032 with a 24-hour trading volume of $1,698,156,415. Additionally, Solana’s Relative Strength Index (RSI) is at 63.58.

Solana’s current price is showing the persistence of bulls. SOL’s price has yet again revisited the $44 price mark after previously failing to break through the price point since the third week of July 2022. Moreover, SOL’s price has also struggled to break past the price point of $46 ever since the fourth week of May 2022.

On the other hand, the Relative Strength Index (RSI) is showing positive signs. An RSI of 63 has only been previously reached back in the third week of July and the first week of April. SOL’s RSI has not been able to reach this height often for the past four months. This could be a positive sign that SOL’s price point could finally break through its resistance level of $46.

Meanwhile, the global crypto market cap stands at $1,175,326,668,987.954 with a 24-hour trading volume of $70,758,512,198.74.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinEdition. No information in this article should be interpreted as investment advice. CoinEdition encourages all users to do their own research before investing in cryptocurrencies.