As Solana experiences significant gains in the altcoin market, attention turns to Cardano's potential for a similar rise.
Solana (SOL) price has shown impressive bullish momentum lately, as it trades within a narrow range between $150 and $180. Notably, SOL price has surged by over 40% in the last month, showcasing a strong bullish trend.
After breaking through the crucial support level at $136, Solana price now faces the nearest resistance at $190. If buying pressure continues to push the price past this resistance, the next target is set around $220. This would represent an additional increase of approximately 22% from current levels.
Observing the technical indicators, we can see that the Relative Strength Index (RSI) is positioned at a favorable value of 54, indicating healthy market conditions. Furthermore, the Moving Average Convergence Divergence (MACD) is also in positive territory, which adds to the bullish outlook for Solana price movements.
In summary, Solana price seems poised for further gains amid the market's sideways movement. Keep an eye on how the price interacts with the upcoming resistance levels and adjust your trading strategies accordingly.
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