Technical Analysis of Solana (SOL) – Dated 8/8
🔹 Current Price (Approximate): $175
🔹 Overall Trend: Bullish in the Short Term
📊 Technical Indicators:
Strong Support: $168
Important Resistance: $182
RSI: Moving at 61 → Still within the Positive Momentum Range
50-Day Moving Average: Bullish and Supporting the Price
Chart Pattern: Ascending Channel since Early August
📌 Short-Term Outlook: If the $182 level is broken with a strong daily close, we may see the price test the $190–$195 area.
However, if support at $168 is broken, $160 will be a critical support area.
📢 Traders are currently watching Solana due to strong activity in the DeFi sector on the network.
