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The bullish momentum in the Solana market continues to gain strength, breaking through resistance levels that haven’t been visited in a considerable period. This market appears poised for further upward movement. Technical indicators suggest that there might be more room for the price to cover in the upside direction as trading activities continue.
Key SOL Statistics:
Current SOL Value: $41.46
Solana Market Cap: $18,347,237,547
Circulating Supply of Solana: 419,440,943
Total Supply of SOL: 561,425,462
SOL CoinMarketCap Ranking: 7
Key Price Levels:
Resistance: $41.46, $43.00, and $45.00
Support: $41.00, $40.00, and $39.00
SOL Stays in Pursuit of Higher Marks
The ongoing session has continued to yield profits for this token. The Solana daily market has displayed strong bullish characteristics over the past four trading sessions. In the ongoing session, the market has successfully broken through the $41.00 resistance mark and seems to be retaining most of the profits gained today.
Moreover, the Moving Average Convergence Divergence (MACD) indicator lines are steeply rising, while the bar of the current session remains solidly green, signifying continued strong upside momentum in this market.
Solana Sustains Bullish Momentum
The SOL 4-hour market indicates the retention of significant bullish momentum. The last price candle on this chart sits above the Guppy Multiple Moving Average (GMMA) indicator lines.
The Relative Strength Index (RSI) indicator lines continue their smooth upward trajectory, while the MACD indicator bars have been consistently solid green over the last two trading sessions. Consequently, this strongly suggests that the upward retracement may persist beyond the $45.00 mark shortly.
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