Solana (SOL) Price Analysis
Solana (SOL) started the week positively, surging past $225. However, it faces considerable resistance at $250, with sellers preventing a move above this level. SOL lost momentum the previous week after starting it positively, rising almost 6% and settling at $222. Sellers took control on Tuesday as SOL dropped by 4.69% and settled at $211. Sellers continued influencing the price on Wednesday as SOL dropped to an intraday low of $201. However, it recovered from this level to register an increase of 1.69% and ended the day at $215. Buyers attempted to build on Wednesday’s momentum as SOL reached an intraday high of $222 on Thursday. However, the price fell after reaching this level, dropping almost 3% to $209.
Source: TradingView
SOL recovered on Friday as it attempted to break out of its trading range, rising over 4% and settling at $218. The weekend began with a decline as SOL dropped 1.30% on Saturday and settled at $215. However, bullish sentiment returned on Sunday as SOL rallied over 10% to surge past $225 and settle at $237, ending the weekend on a bullish note. Bullish sentiment persisted on Monday as SOL rose to an intraday high of $248, with bulls setting their sights at $250. However, with sellers active at this level, SOL fell back to settle at $239, an increase of 1.04%. The current session sees SOL marginally up, trading at $241 as buyers look to build momentum and retest the resistance at $250. On the other hand, sellers will attempt to retake control and drive the price below $225.
