$SOL defies the market, gains 8% in 24 hours: Will SOL’s rise continue? - AMBCrypto Analytics

AMBCrypto’s look at the price trends of Solana on a daily timeframe provided a detailed snapshot of its recent market behavior. 

The week started with a decline for SOL, with its price dropping by around 3.8% on the 23rd of June, closing at approximately $128.63.

Despite the general market downturn, particularly on the 24th of June when Bitcoin [BTC] and most altcoins dipped, Solana managed a notable recovery, closing the day around $132, marking an increase of over 2.8%.

As of this writing, Solana was trading at about $138, representing a further increase of over 4%. However, despite these positive strides, technical indicators suggest Solana remained in a bearish trend. 

It was trading below its short moving average (yellow line), which often serves as a dynamic resistance level.

Additionally, the Relative Strength Index (RSI) remained below the neutral 50 mark, suggesting that overall momentum was still leaning towards the bearish side.

These indicators implied that while Solana has shown some bullish signals in the short term, it has yet to establish a strong enough rebound to shift the longer-term trend.