Technical analysis of Solana on April 23
Current price:
Ranging between $149 – $152
Daily increase percentage: about 5%
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Overall trend and indicators:
Trend: Upward after slight correction
RSI (Relative Strength Index): at 60 – moderate positive momentum
Moving averages (50/200): Golden cross (strong bullish signal)
Chart pattern: Ascending triangle – strong resistance at $162
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Support and resistance levels:
Support: $140 – $128
Resistance: $162 – $180
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Key influencing factors:
Institutional investment of $11.5 million from DeFi Dev Corp
Significant increase in trading activity on DEX (decentralized exchanges)
Solana outperforming networks like Ethereum in some performance metrics
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Future expectations:
If resistance at $162 is broken: we might see an increase towards $180 – $200
In case of correction: watch support at $140 and $128