$SOL Technical Analysis

Solana (SOL) has risen to the 50-day SMA at $131. However, the long wick of the candle suggests that the bears are defending this area very aggressively.

However, the positive divergence on the RSI suggests that selling pressure is weakening. Bulls will continue their efforts to push the price above the 50-day SMA. If successful, the SOL/USDT pair could rise to $147.

Conversely, if the price reverses downwards from the moving averages and breaks below $116, it indicates that bears are still in control of the market. In that case, SOL could fall to $108 and then to $95.

SOL
SOLUSDT
130.16
+1.89%