Solana (SOL) Still Has Room to See More Price Growth
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- Solana remains bullish, with price holding above the $100 level and the 9-day EMA.
- SRSI continues to point upward, supporting the ongoing bullish momentum.
- SOL could move toward $120 and potentially $150 if the current trend continues.
Ever since price action was able to breach the $100 level, it has become clear that the upside forces are quite strong. Even on the fundamental front, we can see that the supercycle has begun. However, it is crucial to understand how people view the coin and what will serve as the basis of the supercycle. Without further ado, let’s dive into the analysis below.
SOLUSDT 24-Hour Chart
On the 24-hour market chart, one can see that today’s trading has appeared as a small red price candle. Meanwhile, the market surged in the previous session, causing prices to rise above the $110 price level.
As such, the ongoing session has produced only a minimal pullback, while the general trend remains largely intact. The Stochastic Relative Strength Index (SRSI) lines are below the 50 threshold but continue to maintain a sharp upward trajectory.
Solana Stays Strongly Bullish
The Solana market has maintained a bullish trajectory for some time now. This is highlighted by the drawn upward-sloping trendline. The previous session was quite bullish, as revealed by the corresponding price candle, but the ongoing session suggests that traders are largely waiting on the sidelines today.
Nevertheless, trading activity continues above the 9-day Exponential Moving Average (EMA) curve. The SRSI indicator lines also retain an upward trajectory following a bullish crossover. As such, this aligns with the indication that the upward correction remains largely intact.
Solana Is Setting Course for the $150 Mark
Price action in the SOLUSDT market appears to have established support above the $100 level, with the previous session showing strong bullish momentum.
The ongoing session has not brought much progress to the market but has only introduced a minimal pullback. Nevertheless, price action remains buoyant at the moment and suggests that the trend may continue through the $120 mark and toward the $150 price level.
