Solana price showed surprising strength when the market was facing huge upward pressure.
After a brief rise, bulls have reduced somewhat as the prices of popular coins have struggled to break through their respective resistance levels. Meanwhile, Solana, one of the altcoins, has maintained its upward trend and ranked among the top 100 coins in the market.
Therefore, this suggests that SOL price may maintain a healthy rise for the rest of the day, which may help the rally to reach the key resistance level soon.
After a period of sustained growth and subsequent pullback, SOL price is now gearing up for a significant uptrend. Market indicators suggest that the cryptocurrency has gone through the necessary correction and has now laid the foundation for a rally to the previous all-time high.
Moreover, as investor sentiment is high and the technical picture shows that the bullish trend will continue, Solana price is expected to maintain a significant rise and form a new ATH in the coming days.
The daily chart of Solana seems very bullish as the price has formed consecutive bullish candles. 💰君.羊秆👀薇:ygz548 However, the bears are doing their best to cap the price below the key resistance level of $158. On the other hand, the technical picture shows that a major shift is coming. The Bollinger Bands are showing a bullish divergence, while the trend indicator DMI is neutral.
With the ADX moving southward and the two indicators +Di and Di being parallel, a bullish crossover is expected. Therefore, the price is expected to maintain an upward consolidation and hit the local resistance of $160, which also collides with the upper Bollinger Band. This may also attract some bearish actions, but after a brief pullback, the Solana price is believed to maintain an upward trend.
Once this move is achieved and sustained, the SOL price may be at the neckline of the double bottom pattern, and a small bullish push may push the coin to new highs.
