The crypto industry continues to experience significant fluctuations on the chart due to increased market volatility. Along with these fluctuations, top tokens have recorded massive price movements in a short period of time. This indicates an increase in buying and selling pressure in the crypto space. On the other hand, solana Its price continued a strong upward trend, increasing by 21.32% in the last seven days. Likewise, Solana, which has increased by 36.40% in the last 30 days, shows a remarkable performance in the cryptocurrency industry.
SOL token traded in a tight range between $94.25 and $100 for a period. But later the market gained momentum and Solana price recorded a rise of 16.74% in three days.
altcoinAfter being rejected at $110.91, it remained sideways for the next eleven days, displaying a neutral trend. As the volatility in the market increased, the momentum of the bulls decreased and a correction occurred, causing the price to fall below the support level.
Solana’s price was stuck between $100 and $107 for a while. However, the bulls gained momentum and registered a bounce of 11.51%. As its name suggests, the price remained horizontal for a while.
In recent days, the bulls have experienced an increase of 26.28%. However, they were rejected at $135.45. Since then, the price has been trading in a narrow range. This indicates that there may be a decrease in price movement for the altcoin.
The Relative Strength Index (RSI) is rising sharply, indicating increasing buying pressure. Additionally, average moves indicate a high probability of bullish convergence. This shows that the price may continue to rise in the future.
Will Solana Price Increase?
If the market price breaks above the $135 resistance level, the bulls will gain momentum and prepare to test the $143 upper resistance level. Holding the price at this level will increase the possibility of Solana token testing the $150 resistance level by the end of the week.
However, if the trend reverses, SOL price will lose momentum and it could decline to test the $125 support level. If the bears gain control, they will be ready to test a lower support level near $117 in the coming period.
