•SOL/USD is currently priced at $33.87 and has increased by 4.98% over the past day
•The technical indicators suggest a continuation of the bullish momentum
•The trading volumes have increased by 42% over the past day
Short Term View: Market sentiment is strong as Solana price rises
The Solana price today is $33.87 USD with a 24-hour trading volume of $1,349,040,197 USD. Solana is up 4.98% in the last 24 hours. The trading volumes have increased over the past day amid increased investor activity whereas the Volume to Market Cap Ratio stands at 0.1152 for the altcoin.
As sentiment flips risk-on against expectation, crypto markets are enjoying a period of buoyant activity today. SOL coin price has shown signs of resurgence in the past day, which could culminate in the altcoin surpassing the trendline resistance placed at $36 and crush the bearish efforts. However, Solana seems to be in the nascent stages of an uptrend as it is still transacting below the 20,50 SMA on the four-hour chart. The support resides at $30 at the other end of the spectrum. The bullish momentum is indicated by the altcoin trading below the 20,50 SMA on the four charts.
Long Term View for SOL Coin
The Relative Strength Index (RSI) for Solana has been on an uptrend for the past couple of days and now sits at 44.25. This shows that buyers have been piling into the crypto and pushing the SOL Coin Price higher. The green histograms have, however, reduced in size on the daily MACD chart whereas the MACD and signal lines continue to transact in the negative zone.
Conclusion
Looking at the SOL Coin price chart, we can see that the altcoin continues to take giant strides and remains in the green during the ongoing session. If buyers can consolidate the control of the session, we could see Solana’s Price rise even further.
Support: $30-$25
Resistance: $36-$40
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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