Solana on a recreational course: First bullish signals despite the challenges of Ethereum in the Dex volume

<p> <strong> Solana on a recreational course: First bullish signals despite the challenges of Ethereum in the Dex volume </strong> </p>

Solana fights back after correction - first bullish signals on the horizon

Solana, the popular blockchain platform, shows signs of recovery after a significant correction. Technical indicators indicate the first bullish signals, while Ethereum in the area of ​​decentralized stock exchanges (Dex) gains the upper hand in trading volume. The question remains: Solana manages to achieve the right breakthrough?

Sol rsi overbought level

the relative strength index (RSI) from Solana recorded a leap up and is currently 72.91 after it was 38.43 just a day earlier. This increase indicates a quick change from neutral to strongly bullish market conditions. The RSI is a widespread momentum oscillator that measures the speed and extent of price movements on a scale from 0 to 100. As a rule, values ​​over 70 signal that an asset is overbought and a correction could be imminent, while values ​​under 30 indicate oversized conditions.

With an RSI of over 70, Solana has reached the overbought area, which shows short -term purchase pressure. Although this can sometimes announce a correction or consolidation, it could also signal the start of a outbreak rally. Dealers should pay attention to signs of continuation or exhaustion. If the momentum continues, Solana could continue to rise, but any standstill could bring profits and trigger short -term volatility.

BBTrend indicator shows progress-yet negative

The Solana BBTRENDICATER has risen slightly to -11.18 after he had previously reached a low of -12.68. This indicates that the downward dynamics slowly subsides. The BBTREND (Bollinger band trend) evaluates the strength and direction of a trend based on the ratio of the course to the Bollinger ligaments. Values ​​below -10 typically show a strong downward pressure, while values ​​above +10 reflect a strong upward trend. An increase in the BBTREND from this deep negative area can be a sign of a possible reversal or at least a slowdown of the downward trend.

Despite this positive development, the broader circumstances in the ecosystem are challenging. Ethereum has overtaken Solana for the first time in six months. While the recovery of the BBTREND indicates potential, Solana needs additional confirmation to turn the trend entirely in favor of its market position. Until then, a cautious optimism remains because the bears have not yet given up.

challenges for Solana remain

The lines of the exponential sliding average (EMA) of Solana show signs of an upcoming golden cross. This pattern occurs when a short -term moving average crosses a long -term moving average and is often interpreted as a bullish signal, which can mark the beginning of a sustainable upward trend. If this pattern is confirmed and the buying pressure can be confirmed, the Solana course at resistance levels could test at 131 USD. A successful outbreak of this could enable possible price gains up to $ 136 and even $ 147.

However, the downward risk remains if the buyers fail to secure the latest profits. If Solana falls back and violate the important support with $ 124, this could generate further sales pressure and press the price to $ 120. With increased downward trend, lower support levels could be tested by $ 112.

FAZIT

Solana positions itself back in the market after a correction and shows both bullish and bearish indicators. Traders should remain vigilant and keep an eye on both the positive signs and the potential risks. The outcome of the coming days and weeks will be crucial for whether Solana can continue his upward movement or whether the market is immersed again.