🔥 Can $SOL reignite ‘Solana Summer’ amid price stagnation? - AMBCrypto Analytics

SOL’s price is currently hovering just above its 50-day moving average (MA50), suggesting a tentative hold in bullish territory but struggling to maintain upward momentum.

The 200-day moving average (MA200) sits slightly above the current price, serving as a possible resistance zone that SOL needs to breach to stage a bullish takeover.

The Relative Strength Index (RSI) near the midpoint (around 47) aligns with this consolidation.

Solana must break past the $190 level to turn the current resistance into support and initiate a stronger rally.

All in all, we see a market that is hesitantly bullish but not fully committed, likely due to SOL’s recent performance plateau. This could lead to continued consolidation until a new catalyst either confirms a bullish continuation or initiates a bearish reversal.