Solana Bulls Eyeing $30 as Price Makes a Strong Move
Solana has started the week with a bullish outlook, gaining 1.6% in 24 hours and nearing $20. Despite a market structure filled with losses, Solana has shown a sustained bullish trend since September, with support at $18.
Key Points:
- Solana’s bullish outlook depends on breaking the resistance at $20
- Traders should look for a bullish cross between the blue MACD line and the red signal line
- RSI is validating the rebound above $20
- A break above $20 is not enough, Solana needs to hold above $23
- There is a falling wedge pattern indicating a potential breakout to $22.5
The MACD in the short-term chart has already turned bullish, signaling traders to place their buy orders. However, if the resistance at $20 holds, Solana could be vulnerable to seller influence, with a possibility of sliding to $15.
Hot Take:
Solana’s recent bullish trend and potential breakout indicate a positive outlook for its price. Traders should keep an eye on the resistance at $20 and the support levels to make informed decisions.
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