-Solana is becoming popular for its low cost and fast transactions
-SOL must hold its 30 MA to continue up trending.
Solana has been gaining steam as a blockchain in response to cost and time effective incentives. Investors have been buying up SOL like crazy as the price has risen over 150% in April. SOL has been in an for nearly 10 days holding the price steady in an uptrend.
The current has been a highly respected mark for the bears or bulls to give up their strength. SOL has just experienced a touch of the bottom support of its channel. This area is also met with a major at $42. To remain SOL must hold the bottom trend of its channel as well its its current support range.
The bottom of the ascending is currently met with the 30 MA, acting as support. This moving average has held the price of SOL during its uptrend the last week. A break of these levels will send the price of SOL to its support range of $31-$34. Minor support is found in the middle near $38.80.
While looking at the , we can conclude that a short term correction may be completed as the strength reset to oversold levels. This low of strength on the has not been seen for nearly 2 weeks. This can indicate the bulls are readying for another push to ATH .
SOL intraday levels