Solana (TIA) experienced a 10.5% growth last week, staying above the $4 level. However, overall market conditions continue to pose challenges for this cryptocurrency. Solana’s Relative Strength Index (RSI) reached its highest level in the past three months, indicating a bullish trend. It has a negative correlation of 0.69 with Bitcoin (BTC), meaning Bitcoin’s price fluctuations have little impact on Solana’s movement. Maintaining positive investor sentiment could lead to further growth for Solana. With the current trend, the likelihood of price stabilization above the $4 support increases. However, the Ichimoku cloud indicator suggests the overall market is still bearish. If investors decide to sell for profit, Solana may come under selling pressure and lose its price stability. Currently, Solana is trading between $4 (support) and $4.50 (resistance). If the resistance is broken, the next target will be the $5 level, the highest price in the past six weeks. Further upside potential beyond $5 is also possible if the uptrend continues. In a bearish scenario, if the price falls below $4, further decline to levels of $3.88 and even $3.23 is possible, weakening the bullish outlook.
