Solana (SOL) has experienced a significant 20% growth in the past seven days, mainly driven by positive technical signals and increased activities in the ecosystem. Both Ichimoku Cloud and Bollinger Bands trend indicators show strong upward momentum and increasing volatility. Solana currently leads in trading volume on decentralized exchanges (DEX) and ranks high among DeFi protocols. The ‘golden cross’ formation by Exponential Moving Average (EMA) curves indicates Solana’s readiness to break key resistances. In the Ichimoku chart, the Solana price is above the thin and Kijun-sen lines, with the Kumo cloud expanding. The Chikou Span line is above the cloud and candles, confirming the bullish trend. The BBTrend indicator currently shows a value of 16.89, significantly higher than 1.88 two days ago, indicating a strong trend when above 10. Solana network recorded around $2.5 billion in DEX trading volume in the past 24 hours, a 14% weekly increase surpassing other cryptocurrencies like Binance Coin and Ethereum. Additionally, five revenue-generating protocols out of the top eight DeFi protocols are built on Solana. Maintaining this momentum, Solana could reach $136 resistance, and upon surpassing it, levels of $147, $160, and even $180 will be achievable. However, if buying pressure decreases, a price correction to $124 and possibly to $112 or $95 levels may occur. Visit the real-time digital currency price page to track all token and cryptocurrency prices live.
