Here is my technical analysis of Solana based on the provided information:
The Solana charts have been looking promising recently! đđ $SOL is currently trading at $156.80 after a 4.10% gain and seems to have support holding above the $146 level. đȘđȘ A rounding bottom pattern appears to be forming which is a bullish reversal sign. This shows selling pressure is fading and we could see the start of a new uptrend.
The 24hr high for SOL is $158.05 which looks like it may provide resistance short term. đ§âđ»đ§âđ» But if it breaks above, it could quickly run up to test that level. Volume has been decent at over 4 million SOL traded in the last day, further adding to the bullish case. đ
If SOL holds the recent lows of $146.57, we may be in for a continuation of this rounding bottom breakout. đđ The overall crypto market also looks positive, so SOL could ride the coattails higher if big brother BTC pushes on. đđ
The technicals are pointing to more gains potentially coming. But with volatility still high, traders should take profits early on any moves up and be ready to re-enter on dips. đ Keep an eye on $158.05 as the next upside target - a break there could ignite further FOMO buying. Overall, the setup looks good!
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