Едиторс Невс- The price of Solana (SOL) has risen in the past 24 hours.
- Trading volume and market capitalization have been rising in the SOL market.
- $13.9 has emerged as a support, while $14.24 has emerged as a resistance.
Solana (SOL) has been rising in price over the past 24 hours, suggesting buyers have taken control of the market. Since yesterday, the price of SOL, which is currently trading at $13.6. The price of $13.9 has emerged as a support level for buyers, while the price of $14.24 has emerged as a resistance level for sellers, and can also reach $14.5.
Trading volume and market capitalization have been rising in the SOL market, contributing to its positive strength. As per CoinMarketCap, the trading volume of SOL is at $269,914,253, and marketcap is at $5,162,229,152
Bolstering this steady growth is the linear movement of the Bollinger Bands on the SOL price chart, with the upper band reaching $14.41 and the lower band touching $12.93. Positive trends are likely to continue. Spot prices that move up toward the top band are usually bullish.
The Relative Strength Index (RSI) on the 2-hour chart of prices is heading south at 63.25, suggesting that the bull stranglehold on the SOL price is weakening.
The Stoch RSI has been in the nearly overbought zone in recent hours, with a value of 67.66 suggesting that the current trend is reaching its conclusion; however, this does not guarantee that prices will bounce higher but rather serves as a warning.
The Know Sure Thing (KST) level is 25.97 which is advancing. KST’s negative zone and increasing trend suggest bullish momentum is building.
A long-term moving averages cross below short-term moving averages when bullish crossings occur. This is noticeable on SOL charts when the 50-day moving average crosses below the 5-day moving average, which has values of $13.96 and $12.54, respectively. Prices have been successfully pushed up in the last 24 hours by the bulls.
Source: https://thenewscrypto.com/solana-sol-may-break-out-over-14-5-if-bull-trend-retains/