$SOL

🚨 Solana price technical analysis 🚨

The daily chart shows that the SOL price bottomed at $95.27 earlier this month as concerns about its ecosystem jumped. It has bounced back and moved above the key resistance level at $121.17, its lowest since September last year.

It formed an inverse head-and-shoulders pattern, a popular bullish sign. It has also moved above the 50-day moving average. Additionally, oscillators such as the Relative Strength Index and the MACD have continued to rise.

It has also jumped above the 23.6% Fibonacci Retracement level. Therefore, the coin will continue rising as bulls target the key psychological level at $200. This target is about 32% above the current level.

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