🚀 Crypto Why is the Solana (SOL) Price Up Today?

[Gr@c3]

Solana broke above the key resistance at $126 and in the process made a new local high. In the following, we take a look at a few technical indicators that might provide some insights into why SOL’s price is up today.

Key Support levels: $126

Key Resistance levels: $163

1. Resistance Turns into Support​

The resistance at $126 was overrun by buyers today and they managed to turn it into a key support. If this level holds, then the next target is found at $163. Since Solana just made a higher high, the price action is bullish.


Chart by TradingView

2. Volume Returns​

Today’s volume reached levels not seen since January and turned the momentum indicators bullish. With buyers back in control of the price, Solana has a good chance at higher levels.


Chart by TradingView

3. Bullish Cross on MACD​

The daily MACD made a bullish cross after some hesitation yesterday. This confirms the bullish bias and sets the stage for Solana to move to the next key target at $163, as long as buyers keep this momentum.


Chart by TradingView

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