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Solana (SOL) coin decisive price movement upcoming

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Solana (SOL) had been on an uptrend ever since the brutal market crash. However, recent bearish momentum overtook the market for Solana and resulted in a break on the uptrend. However, after establishing a support level, the cryptocurrency has started moving upwards again. At the time of writing, Solana coin stands at a price level of $40.45. The price of SOL coin has moved up by 7% in the past twenty-four hours while the daily trading volume has also increased by 20%. The fourteenth ranked cryptocurrency has also been moving up in the weekly timeframe.

Solana (SOL) technical analysis

The market sentiment for Solana is bullish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of buy while ten are standing at a neutral position with only one indication of sell. The oscillators are neutral while the moving averages suggest a strong uptrend.

Solana (SOL) technical analysis
Solana (SOL) technical analysis

Solana (SOL) has been operating in a descending wedge formation. The cryptocurrency is approaching the end of the wedge and a break out is near. Solana appears to be breaking out at the 0.382 Fibonacci Retracement level. The cryptocurrency can expect to find strong support at the price level of $34 while the upside price targets and resistance levels lie at $45, followed by $54 and $63.

What has been up in the Solana space?

GTS – one of the largest trading firms in the New York Stock Exchange – has announced its debut into a crypto sphere with Solana. The trading firm has joined Pyth Network – a data aggregator on Solana’s blockchain – to

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Bitcoin (BTC)

Can Solana (SOL) overtake Ethereum (ETH)?

Solana (SOL) year-to-date performance is a staggering 1,950% gains while Ethereum (ETH) year-to-date returns stand at just 252%. After the crash, both the cryptocurrencies have

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