Recently, Solana (SOL) has experienced a significant drop, but signs of a return to an upward trend are now visible. Currently, a bullish divergence pattern has emerged on the SOL chart. This pattern occurs when the asset’s price forms a new low, but the Relative Strength Index (RSI) indicates a higher ceiling. This indicates increased buying power and the possibility of price growth. If Solana’s price remains above $120, it could potentially grow by up to 42% and reach $180. Solana is currently trading around $128, with over an 8% increase in the past 24 hours. Trading volume has also increased by 25%, indicating new investors entering the market. Other positive factors include an increase in buying volume, with $60 million worth of SOL leaving exchanges in the past 24 hours, showing investors’ interest in holding Solana and buying pressure. On the other hand, on-chain data shows that open positions in the market have grown by 11%, with traders creating a total of $40 million long positions and $23 million short positions in the $125.8 to $128.5 range. The combination of these data indicates that buyers are re-entering the market, and Solana may return to the $180 level in the coming days.
