Chart by TradingView
Solana broke above $24 and escaped the downtrend in the process.
Key Support levels: $21, $24
Key Resistance levels: $26, $30
SOL started a major breakout after successfully escaping the resistance at $24, which has now turned into support. Another push above $26 would open the way for the price to reach $30 next. The current price action is bullish, and the momentum favors buyers.
Trading Volume: The sustained buy volume in the past four days has allowed Solana to move higher.
RSI: The daily RSI is making higher highs and inches closer to the overbought area above 70 points.
MACD: The daily MACD painted a bullish cross yesterday, which signals a major move higher becomes more likely.
The bias for SOL is bullish.
With renewed momentum coming back to Solana after a short correction, it appears that the price is ready for higher levels.
