1. Price movement and volatility:
- Current price: $150.13 (up 2.02% over the past 24 hours).
- Daily trading range: between $147.10 (low) and $153.93 (high).
- In the last 12 hours, the price seems to have stabilized around $149-$150 with attempts to break resistance at $153, but no clear success so far.
2. Trading volume and liquidity:
- Trading volume (24 hours): $3.24 billion, indicating high trading activity.
- Volume-to-market cap ratio: 4.17%, which could support the likelihood of a strong price breakout if momentum continues.
3. Short-term technical signals:
- RSI (Relative Strength Index): In neutral territory (not indicating overbought or oversold).
- Chaikin Money Flow (CMF): at 0.03, reflecting slight capital accumulation but insufficient for significant breakout.
- Formation of an ascending wedge on the 4-hour chart: may indicate the potential for a correction towards $133-$131 if the price fails to maintain bullish momentum.
4. Critical support and resistance levels:
- Near resistance: $153.90 (daily high).
- Immediate support: $147.10 (daily low).
5. Short-term outlook:
- Bullish scenario: If the price stabilizes above $150 with a breakout of resistance at $153.90, it may target $156-$160.
- Bearish scenario: Failure to break resistance may lead to a correction towards $147 (daily support), or even $133 in case of triggering bearish patterns like head and shoulders.
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Summary:
Over the last 12 hours, Solana has shown relative stability around $150 with fluctuations within a narrow range. The upcoming trend depends on the price's ability to break resistance at $153.90 or break support at $147. Traders are advised to monitor volume indicators and technical signals such as CMF and RSI to confirm the new trend.
$SOL
