Over the past few weeks, the price of Solana has been in the hands of bulls, holding the key long -term resistance, turning them into supports. The cryptocurrency flared up from the descending price in April and is now consolidated around the hard range. This consolidation involves support at the main levels, which indicates a signal for a larger move.
The technical structure of SOLANA seems promising, since the price trades with exponential sliding average (EMA) as dynamic support below the price. Based on the current trend, Solan may soon begin to explode higher. This may be noted the next stage for a plus for a coin.
SOLAN Price Price Cool Support, holding above the previous maximums
Looking at 4-hour graphs, it is obvious that the price of Solyan has a solid support located at the level, which used to be a determining resistance. The price of Solan was consolidated above the critical support zone of $ 144.97 and about $ 148.
In mid -April, this area was a resistance zone, and in Flip now it provides stability of the price action. This is a healthy price structure. Resistance, turning in support, usually means power, and this adds confidence in bulls.
Above this area supported by resistance, consolidation means that Solan is currently in healthy correction. It can also mean a consolidation phase signaling a potential tendency to the ascending ascending.
It is capable of Solana Price withstanding a significant large part of an increase in maximums in a 4 -hour diagram. It quickly recovered to the aforementioned $ 112, then after a sharp fall to about $ 112 in early April.
Then it grew through the resistance levels. Since then, he turned on this narrow strip of consolidation, and there is a potential for a breakthrough or further consolidation, based on holding support of $ 145.
EMA confirm the existent market structure at the price of SOLANA
The current price of SOLANA is optimistic because the exponential sliding medium (EMA) are currently leveled below the price. Ema on a 4 -hour graphics all formed at the current price and move up. The fact that these EMA unite together suggests that a lot of support is added to the price of the bull structure.
Trend markets will act as dynamic support levels for EMA, and when they converge, they will often be a good sign that the main trend is valid.
In this case, the 20, 50 and 100 periods of EMA, in the visible one, are quite close to each other, which can relate to market participants who buy all the time next to these levels. From the point of view, the price, the price of Solan was not knocked out of its growth in the pulse, the price hits below EMA.
Breakthrough from the channel confirms the shift of the trend
SOLANA Price was able to break out of the long -term channel of the descending price on the daily currency schedule. The price of all her might tried to achieve sufficient success over the upper boundary of the channel. The price action took place in a descending trend, forming a series of lower maximums.
But in early April, Solan resolutely broke up through this downward slope. This dropped a hint of market sentiments, moving from bear to bull.
The breakthrough was strong and had an increase in volume, which indicates that the buyers have returned control over the market. When this signal broke over the resistance of the channel, the descending trend ended, and the rising trend was born.
From the moment of her breakthrough, Solan up and formed higher low and higher maximums, which would be an optimistic feature of the upward trend.
After a breakthrough occurred, the price of Solana checked the previous levels of resistance and now exceeds $ 145.
This confirms the transition from the bear market to bull. With the price, now a pause and the strength of the building, the current consolidation is a natural part of the continuation of the trend.
Although SOL looks optimistic, as the price action also indicates, we have modes moving towards the neutral of the pulse. The current stochastic RSI in the daily diagram is currently 59.77.
Thus, the current reading tells us that Solana Price has a place to promote an impulse. However, the southern trajectory may mean that the impulse can weaken.
The volume oscillator detects a negative indication of -30.52%, which means that the volume was lower than in its sliding average. As a rule, this reduction in volume is accompanied by consolidation or phases of correction.
Although the low volume during consolidation is not necessarily bear, this indicates that the market is waiting for the fresh interest of the purchase in order to increase the price.
