Buyers Return
Solana experienced a bullish cross, resulting in a significant price increase. This upward momentum suggests the possibility of a breakout. The only obstacle remaining is the resistance at $104 before SOL can reach new highs.
Breakout Imminent?
Although the price briefly surpassed $104, sellers quickly pushed SOL back below this key resistance level. However, this occurrence indicates strong buyer activity and a bullish signal.
MACD Bullish Cross Confirmed
On Monday, the daily MACD confirmed a bullish cross, with the histogram reaching another high today. This further supports a bullish bias and suggests the potential for higher price levels.
Bias
The current bias for SOL is bullish.
Short-Term Prediction for SOL Price
The resistance at $104 may not be able to hold back the buying pressure for much longer. If it breaks above this level, Solana could continue its upward trend towards $126, which was the previous high.
Hot Take: Solana Primed for Further Growth
Solana appears poised to continue its upward trajectory after experiencing a recent correction. With buyers returning and the potential for a breakout, coupled with confirmation from the MACD indicator, there is optimism for further growth in SOL’s price. Keep an eye on the resistance levels as they may serve as key milestones on its journey towards new highs.
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