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SOL Explodes Over 10% Daily, is $30 Imminent? (Solana Price Analysis)

Solana broke above $24 and escaped the downtrend in the process.

Solana Price Analysis

Key Support levels: $21, $24

Key Resistance levels: $26, $30

SOL started a major breakout after successfully escaping the resistance at $24, which has now turned into support. Another push above $26 would open the way for the price to reach $30 next. The current price action is bullish, and the momentum favors buyers.

Chart by TradingView

Trading Volume: The sustained buy volume in the past four days has allowed Solana to move higher.

RSI: The daily RSI is making higher highs and inches closer to the overbought area above 70 points.

MACD: The daily MACD painted a bullish cross yesterday, which signals a major move higher becomes more likely.

Chart by TradingView

Bias

The bias for SOL is bullish.

Short-Term Prediction for SOL Price

With renewed momentum coming back to Solana after a short correction, it appears that the price is ready for higher levels.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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