Solana MACD Indicator Signals Potential Breakout as Momentum Builds
Solana (SOL) is displaying potential signs of a breakout, as technical indicators suggest renewed momentum. Key points include:
- The MACD has crossed above the signal line on the weekly chart.
- This crossover often precedes significant price movements.
- Analyst Willjayducks noted a bearish divergence prior to a 67% decline over 84 days, indicating that the correction phase may be ending.
- If upward momentum continues, the MACD could cross above the zero line, signaling a bullish trend shift.
While there are bullish signals, there remains a risk of returning to bear trends if momentum falters. Analysts advise monitoring price action closely for both bullish and bearish scenarios.
