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Price activity in the Solana daily market has broken through multiple resistances ever since the market surpassed the $30.00 mark. Yesterday’s trading session in the Solana market welcomed significant traction, while today’s trading followed the trend of yesterday.
Key SOL Statistics:
Current Solana Value: $93.21
Solana Market Cap: $39,298,410,420
SOL Circulating Supply: 427,338,268 SOL
Total Supply of Solana: 565,385,017 SOL
SOL CoinMarketCap Ranking: 5
Key Price Levels:
Resistance: $93.21, $95.00, and $100.00
Support: $93.00, $90.00, and $88.00
Solana Bulls Eyes the $95.00 Mark
Today’s trading session has been particularly beneficial for long traders in the SOLUSDT daily market. Price action in this market punched its way through the resistance price level at $80.00. Consequently, this has brought the token above the green set of the Guppy Multiple Moving Average lines. Meanwhile, today’s trading activities have convincingly advanced the general upside retracement.
Likewise, the Moving Average Convergence Divergence (MACD) has continued upward with more vigor. Also, the MACD bars have increased in height above the equilibrium level, affirming the bullish dominance as price action breaks through the $90.00 mark and keeps trading above that mark as of the time of writing.
SOL Is Encountering Moderate Headwinds
Solana has impressively sustained its bullishness after breaking through the $80.00 mark. Even in today’s trading session, it can be seen that price action has regained massive bullishness considering the size of the corresponding price candle above the GMMA indicator lines. However, it appears that this price increase has started attracting the attention of traders.
This can be seen as the mentioned price candle has a long upper shadow. Despite this, today’s trading session has retained a large portion of the printed gains as of the time of writing. Likewise, the MACD indicator lines are still trending upwards, as the indicator bars have regained their solid green appearance. Consequently, this implies that today may end as another profitable one, as the market may continue towards the $96.00 mark.
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