đ„ Can $SOL reignite âSolana Summerâ amid price stagnation? - AMBCrypto Analytics
SOLâs price is currently hovering just above its 50-day moving average (MA50), suggesting a tentative hold in bullish territory but struggling to maintain upward momentum.
The 200-day moving average (MA200) sits slightly above the current price, serving as a possible resistance zone that SOL needs to breach to stage a bullish takeover.
The Relative Strength Index (RSI) near the midpoint (around 47) aligns with this consolidation.
Solana must break past the $190 level to turn the current resistance into support and initiate a stronger rally.
All in all, we see a market that is hesitantly bullish but not fully committed, likely due to SOLâs recent performance plateau. This could lead to continued consolidation until a new catalyst either confirms a bullish continuation or initiates a bearish reversal.