Solana Price Rises 2.8% to $155 Following Recent Dip
Crypto analyst Grayhoood has indicated that Solana (SOL) is experiencing a bullish trend, with a 2.8% price increase over the last 24 hours, currently priced at $155.35 after a brief dip to $151.
Key Indicators Suggest Short-Term Strength
- 7-day performance shows a 1.4% increase.
- Long-term outlook remains volatile; SOL is down 3.9% over the past year.
- Technical indicators suggest cautious optimism, with the Relative Strength Index (RSI) in a neutral zone.
- The Stochastic Oscillator and Commodity Channel Index (CCI) indicate bullish momentum as SOL breaks the $154 resistance level.
- Buyers appear to be regaining control, though sellers remain active.
Recovery and Long-Term Weakness
- Short-term moving averages show mild buying pressure, supporting SOL’s bounce from $151.
- 30-day and yearly trends reflect declines of 9.3% and 3.9%, indicating broader market caution.
- Despite recent gains, the bearish structure from previous months persists.
Grayhoood believes market sentiment is leaning bullish short-term. Continued upward momentum and challenges to key resistances may signal a broader shift in sentiment for Solana.
