Solana (SOL), a fast and scalable blockchain platform, recently surged into the top 4 cryptocurrencies, at the expense of Binance Coin (BNB). This surge highlights Solana’s growing popularity, due in part to improvements in scalability and ecosystem growth. Solana’s ability to offer faster and cheaper transactions has made it attractive to developers and investors alike.
Below we take a look at the latest technical analysis from Our conflict environmentwhere our analysts are the first to share their insights on the cryptocurrency market, prices, latest developments and other market trends.
Technical analysis of Solana (SOL) price.
Solana recently found support in the green zone and managed to rally sharply again from here, just as analysts expected. They recently explained this as follows on Discord:
“We continue to hold our Solana positions from the green box at $127. The price found support in this area and has been rallying nicely since then. We placed a stop loss (SL) at entry to limit our risk. So we can no longer take a loss on this trade.
The current price action follows our expectations. We would like to see the price break above $185 for further confirmation of the uptrend. This would be a strong indication that SOL is ready to move higher.
In the short term, we expect a slight correction followed by a continuation of the uptrend. We will continue to monitor the race closely in Discord and will be the first to share our latest updates here.
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