1. Main price movement $SOL
- Current price: $150.97 (up by ≈3.70% over the last 24 hours).
- 24-hour trading range: Between $144.69 and $151.94, with a focus on gradual increases over the last 12 hours.
- Trading volumes: Trading volume reached ≈$4.69 billion, indicating increased market activity.
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2. Notable technical indicators
- Resistance and support levels:
- Key resistance: $151.94 (highest level in 24 hours).
- Strong support: $144.69 (lowest level in 24 hours).
- Analyses suggest that breaking the $151.94 level could target $156.29 as the next goal.
- Relative Strength Index (RSI): In a neutral to bullish area, supporting the likelihood of continued positive momentum.
- Moving averages: The price is attempting to stay above the 50-day moving average (EMA 50), which reinforces the short-term bullish trend.
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3. Potential influencing factors
- News and events:
- Network recovery after previous attacks such as the Wormhole hack (recovered $320 million).
- Increased adoption of decentralized applications (dApps) and NFTs on the Solana network.
- Challenges: Concerns regarding network security and high market volatility (volatility ≈3.31%).
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4. Short-term technical forecasts
- Bullish scenario:
- Activation conditions: Stabilizing the price above $151.94 with increased trading volumes.
- Targets: $156.29 (swing resistance), then $160.
- Bearish scenario:
- Activation conditions: Breaking the level of $144.69 with a strong close below it.
- Targets: $140 (psychological support), then $134.63.
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Summary:
Solana has shown positive performance in the last 12 hours with improved technical momentum and increased trading volumes. However, key resistance levels ($151.94) and support ($144.69) should be monitored closely, especially with the high volatility characteristic of the cryptocurrency market. Traders are advised to follow risk management, especially in light of potential external events.
#MEMEAct
