Solana Increases Value By 1.29%, indicating a strong bullish Momentum
CoinEdition
Published Jan 07, 2023 04:17AM ET
Updated Jan 07, 2023 04:30AM ET
Solana Increases Value By 1.29%, indicating a strong bullish Momentum
- Solana shows an uptrend movement as prices surge by over 2.04 percent.
- SOL/USD prices are facing support at $12.77.
- The Solana has risen up and is moving toward a confluence of resistance levels at $13.54.
Solana price analysis shows an uptrend with a series of higher highs and higher lows. Over the past two weeks, Solana’s price has increased from $11.98 to a high of $13.28, representing a gain of 1.29%. The bulls have been defending the key support of $12.77 for the past few days and have not allowed the price to drop below this level.
SOL is currently testing the $13.54 resistance, and a break above seems possible. Looking at the daily chart, Solana’s price analysis shows that is presently trading in an upward channel and is currently trading at $13.28 this same period, Solana’s trading volume has steadily increased, reaching an all-time high last week.
Solana price analysis reveals the market volatility to follow an uncertain closing movement, which causes the SOL prices to become less susceptible to volatile change. As a result, Bollinger’s band’s upper limit is $14.20, acting as the strongest resistance point for SOL. Conversely, the lower limit of Bollinger’s band is at $9.07, representing the strongest support for SOL.
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