Bulls Ready to Make a Comeback
Solana has managed to avoid a lower low as buyers stepped in, creating a higher low. This indicates that the price may be gearing up to test the $104 resistance level.
Preparing for a Potential Breakout
If SOL can surpass the $100 mark, it will likely face minimal resistance in its path, potentially leading to an uptrend. The current correction appears to be coming to an end, supporting the possibility of a breakout.
MACD Indicator Turning Bullish
The 12-hour MACD is on the verge of a bullish cross, which would give buyers an advantage and could push SOL back to a valuation in the triple digits. Keep a close eye on the price action for confirmation of this signal.
Bias
The bias for SOL is currently neutral.
Short-Term Price Prediction for SOL
If the key resistance at $104 is broken, the bias will shift to bullish. Until then, there may be increasing pressure beneath this level, resulting in heightened volatility throughout the week.
Hot Take: Solana Aiming for $100 Breakout
Solana’s recent consolidation phase appears to be nearing its end, and there are indications that it may attempt to break into $100 once again. Keep an eye on key resistance levels and watch for bullish signals such as a successful break above $104. The cryptocurrency market can be unpredictable, so stay vigilant and informed as you navigate Solana’s price movements.
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