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Solana’s Volume Surge and $176 Price Mark Paint a Bullish Picture—But There’s a Catch
Solana cryptocurrency has stood out in the market as many other digital assets have displayed volatility highlighting strong bullish momentum in recent weeks. According to the current price action, the price has been consistently respecting an upward regression channel since early April 2025, starting around $100 and climbing steadily to its current level at $175.70. This channel reflects a well-defined bullish trend, with price action forming higher highs and higher lows along the path.
Solana Current Market Trend Explained
Tracking the broader market movement overtime, CoinMarketCap data indicates that bulls have been under control. As of latest, the data indicates that during the Asian trading session, the asset opened its market with a price value of $169.93 marking it low during the session. Currently, Solana is trading at $176.18, reflecting a 2.84% increase in the past 24 hours while the market cap stands at $91.62 billion, with a fully diluted valuation of $105.92 billion.
Can SOL Maintain it Uptrend to New Levels?
A technical analysis to determine whether Solana will hold on to its current structure is key using RSI and MACD indicators. Examining the Relative Strength Index (RSI), currently at 61.87, with a signal line around 65.15, indicates moderate bullish momentum. Although not yet in overbought territory (typically above 70), the RSI suggests there’s room for further upside before a potential reversal or consolidation. An extended increase in RSI toward 70 could signal an overextension and the possibility of a short-term reversal.
Solana’s price action matches the regression channel, is supported by technical indicators and has a good trend teaming up to indicate a bullish outlook. Still, a crossover on the MACD followed by the RSI value rising above 70 should be carefully watched. Maintaining price action within the channel will be key to sustaining this upward trajectory.
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