đSolana could be poised for double-digit gains
âčïžSolana is in a long-term upward trend, hovering close to $160. SOL trades at $156.92 at the time of writing, and the altcoin could extend its gains by 11.75% to $175.39, a key resistance level for Solana as it aligns with the upper boundary of the Fair Value Gap (FVG) between $172.91 and $175.39.
đBefore reaching the FVG, SOL faces resistance at $160.09, the 50% Fibonacci retracement of the decline from its March 18 top of $210.18 to the August 5 low of $110.
The momentum indicators Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) support the bullish thesis for SOL. RSI reads 55.48, signaling strength in SOLâs price trend. MACD shows green histogram bars above the neutral line, this implies the underlying positive momentum in Solanaâs price trend, on the daily timeframe.
