Recently, Solana (SOL) has shown strength in various fronts, maintaining its bullish structure in the Ichimoku Cloud chart and starting an upward trend in the Bollinger Bands Trend indicator, indicating increasing buying pressure. Despite the price being above the Kijun-sen line, it remains below the Tenkan-sen line, signaling a short-term weakening in momentum. However, the overall Ichimoku structure remains bullish, with the thick expanding cloud providing strong price support. If Solana can move above the Tenkan-sen line, a return to the upward trend is possible. Additionally, the Bollinger Bands Trend indicator has reached around 4.26 to 6 range, showing an active upward trend. Solana’s chain activities remain robust, with decentralized exchange (DEX) transaction volumes reaching $15.15 billion in the past 7 days, mainly due to the growth of meme coins and launchpad competitions. Solana has reclaimed the top spot in terms of DEX trading volume, registering $15.15 billion in transactions over the past seven days. It has also surpassed Ethereum in terms of staking market value. Four out of the top ten fee-generating applications belonged to Solana in the past week. The current Solana price is above the $136 resistance, with next targets at $147, $152, and even $179 if the bullish trend continues. However, losing bullish momentum could lead to retesting lower support levels. Visit the real-time digital currency price page for live updates on token and cryptocurrency prices.
