- Previous analysis confirmed; Solana continues its upward trend and has provided a 11% return.
- Daily closes above the $25 resistance are important; $27 levels can be targeted.
- Closes above $24.27 in short-term analysis are critical for the upward movement, but resistance reactions should be monitored.
Solana’s daily technical analysis confirms the accuracy of previous analyses and shows that the upward trend continues. In this analysis, it is possible to understand the current movements and possible future developments by focusing on the proximity of the price to support and resistance levels.
Medium-Term SOL Analysis
Daily SOL/USD Price ChartWhen we examine Solana’s daily technical chart, it started the upward trend from its support as we mentioned in the analysis shared on July 23rd and provided our readers with an 11% return. As long as the SOL price remains above the support zone of $22.51 – $21.34 mentioned in the analysis, it will want to continue the upward trend.
Click Here to Review the Analysis Shared on July 23rd.
However, the SOL price should achieve daily candle closes above the $25 resistance level. If the SOL price makes daily candle closes above $25 and maintains stability above it, Solana may want to continue its upward movement towards $27 levels.
If the SOL price makes daily candle closes above $27, the next upward target will be $33. Solana investors should carefully monitor daily candle closes above the $27 level.
Short-Term SOL Analysis
When we examine the short-term SOL price chart, it continues its price movements as we mentioned in the analysis shared yesterday. While the SOL price continues its price movements around the $24.74 levels, it is also moving close to the $25.49 resistance.
As long as the SOL price holds above the support range between $22.50 and $21.93, it has the potential to expand the upward trend towards the resistance range of $25.49 to $25.92. In the short term, it is important for Solana’s price to achieve 2-hour candle closes above the $24.27 level in order to sustain the upward movement.
If the Solana price encounters selling pressure from the mentioned resistance range, it may continue its downward movement towards $23.68. SOL investors should carefully monitor the selling pressure in the resistance zone.
