Solana surged past the crucial resistance at $126, establishing a new local high. Examining the prevailing market conditions, we observe key support at $126 and resistance at $163.
1. Support Transformation: Buyers successfully breached the $126 resistance, transforming it into a pivotal support level. Sustaining this support may propel Solana towards its next target at $163, with the recent higher high indicating a bullish price trend.
2. Volume Uptick: Today's trading volume reached levels unseen since January, turning momentum indicators bullish. With buyers regaining control, Solana stands poised for upward movement to higher levels.
3. MACD Bullish Cross: The daily MACD exhibited a bullish cross, affirming the prevailing bullish sentiment. This development paves the way for Solana to approach the next significant target at $163, contingent on buyers maintaining the current momentum.
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