Solana Recovery Momentum Set The Stage For $194 Resistance Breakout

Quick Summary:

Bullish Indicators Supporting Recovery Several technical indicators are aligning to suggest a potential continuation of upward momentum: Composite Trend Oscillator: Both the signal line and the SMA of this indicator are gradually climbing out of oversold territory, reflecting an increase in buying pressure and a shift toward positive sentiment.100-Day Simple Moving Average (SMA): The price is approaching this key moving average, signaling a possible shift in the medium-term momentum.

Related Reading: Solana Holds Weekly Support At $180 – Analyst Expects $330 Mid-Term Conversely, If bearish action strengthens, Solana might face increased selling pressure, possibly pulling its price to the $164 support zone.

Solana Resilience Amidst Waning Market Condition The $164 level has proven to be a critical support zone for Solana, acting as a safety net against further declines.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United KingdomNigerNigeria

Topics: Composite Trend Oscilator Solana Simple Moving Average Sol SMA SOLUSD SOLUSDT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-24 @ 14:30:56 (1 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 439 words

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Copyright Owner: © NewsBTC

News ID: 24639754

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