Convergence

Flow

Solana

Divergence

<ul>
 <li><strong>A 5% jump in Solana’s price pushes it toward $219.</strong></li>
 <li><strong>SOL’s daily trading volume has surged by over 99.22%.</strong></li>
</ul>
<p>With a 2.05% spike, the crypto market cap has landed at $3.92 trillion. All the major tokens are actively charted in the green zone, initiating a long-term recovery effort. The largest assets, like Bitcoin (BTC) and Ethereum (ETH), are striving to push the price up. Meanwhile, Solana (SOL) exhibits a move on the upside, registering a jump of over 5.63%.&nbsp;</p>
<p>After a series of ups and downs, the altcoin has held its ground, pushing the momentum upward. This recent gain has triggered the SOL to test and break the crucial resistance zones between $207.60 and $219.45, confirming the bullish presence. As per CMC <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer">data</a>, Solana traded at around the $219.17 range at the press time.&nbsp;</p>
<p>Concurrently, the market cap of SOL is resting at $118.73 billion, with the daily trading volume surging by over 99.22%, reaching $10.83 billion. The Coinglass <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">data</a> has reported that the market has observed an event of $20.30 million in Solana liquidations over the past 24 hours.&nbsp;</p>
<h3 class="wp-block-heading" id="h-can-the-bulls-push-solana-to-a-new-high">Can the Bulls Push Solana to a New High?</h3>
<p>With Solana’s technical indicator, the Moving Average Convergence Divergence (MACD) line situated above the signal line, a bullish momentum is inferred. If the uptrend increases, the asset’s price could continue to move up. Notably, the Chaikin Money Flow (CMF) indicator found at 0.28 implies a strong buying pressure in the market. The money is flowing into the asset, supporting SOL’s positive outlook.&nbsp;</p>
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<p>Zooming in on the four-hour price chart, the SOL price might rise and find its key resistance at around $219.24. If the upside <a href="https://thenewscrypto.com/solana-at-212-can-sol-bulls-keep-charging-and-hold-their-ground/" target="_blank" rel="noopener noreferrer nofollow">correction</a> strengthens, the bulls could trigger the golden cross emergence, with the subsequent resistance range above $219.31. Contrarily, assuming the asset turns the current momentum bearish, the price might challenge the $219.10 <a href="https://thenewscrypto.com/bullish-breeze-for-solana-sol-is-a-price-wave-about-to-hit/" target="_blank" rel="noopener noreferrer nofollow">support</a>. A potential correction on the downside could push out the death cross, driving the Solana price below $219.03.</p>
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<p>Additionally, the daily Relative Strength Index (RSI) of SOL is positioned at 71.73, which hints that it is in overbought territory. Also, the asset could face a pullback or correction soon. Solana’s Bull Bear Power (BBP) reading, staying at 10.75, is strong, signalling that the bulls are in control, with significant upward momentum in the market. Besides, it potentially supports a continued price rise.</p>

Bullish Energy Unleashed: Can Solana (SOL) Deliver More Gains or Hit Resistance?

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TheNewsCrypto

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