Solana's Price Surges 1.65% to $129, Bullish Momentum Builds

Solana (SOL) has recently experienced a notable price surge, rising above the $130 mark. This upward movement comes after a period of consolidation and uncertainty among traders, following a firm rejection at the $145 resistance level. The price of SOL has shown a slight increase of 1.65% in the past 24 hours, currently trading at approximately $129 after bouncing back from the $125 demand zone. This recovery indicates a renewed investor interest and a potential for further price increases in the near term.

The Moving Average Convergence Divergence (MACD) initially showed a bearish signal, but the recent price action suggests a shift in market sentiment. Solana's price has been consolidating below the $132 support zone, struggling to recover above the $126 resistance. However, the intraday recovery of 3.89% has allowed SOL to aim for the $130 mark, signaling a potential breakout.

The price of SOL has also witnessed a recovery following a persistent decline over a few days. The current price shows a 0.82% increase during the recent 24 hours, highlighting $SOL’s capability to reclaim recent price heights as bullish momentum builds up. The overall 24-hour price change denotes a 0.82% price upsurge for $SOL, pointing toward steady community support and increasing its potential for additional gains in the future.

The immediate price resistance for SOL is at $127.69, with $147.05 and $178.63 standing as the second and third levels of resistance. On the other hand, the immediate price support is at $123.1, with $113.18 and $110.6 as the second and third price support levels respectively. The latest price increase of 0.82% signifies rising bullish momentum for Solana, which could be the onset of a considerable price movement. If this trend sustains, it could raise Solana’s price to $140.10, accounting for an 11.01% surge within thirty days.

However, there is still uncertainty among traders regarding the next price move. Some analysts predict a 102% increase, pushing SOL toward $263 by July, but this remains to be seen. The next few weeks will be crucial in determining whether Solana can maintain its upward trajectory or face further challenges.