Solana ($SOL ) Bull Market Started?
Solana’s unexpected breakthroughWith a price performance that is strengthening and a technical setup that has historically indicated the start of bull markets, Solana is showing indications of a possible trend reversal. Recently the asset has surpassed its 50-day Exponential Moving Average (EMA), a crucial resistance level that frequently serves as the starting point for long-lasting rallies. With its current price of $134, Solana is up more than 2% for the day and has been steadily rising for a number of sessions.
Strong upward trend lines and rising trading volume, two bullish indicators that frequently precede breakout rallies, are the foundation of this movement. The clear breach of the 50 EMA (blue line) which has been limiting price growth for a number of weeks is among the most noteworthy developments. The fact that this level is now serving as dynamic support indicates that bulls are taking over the market.
In the past, SOL’s price has started to rise significantly after breaking the 50 EMA, particularly when volume spikes like the ones we are currently seeing are present. Furthermore, Solana still has room to rise before facing significant selling pressure because the RSI levels are leaning bullish without indicating overbought conditions. The 100 and 200 EMA zones, or $153 and $165, are the next crucial resistances where price action is probably going to pause and consolidate.
A push toward $150 and higher might be imminent if the present momentum holds and SOL can keep its position above the 50 EMA. This configuration places SOL as one of the leading candidates for a possible alt-season comeback, as does the increased trust in Solana’s ecosystem and the improved mood on the altcoin market.