Solana (SOL) Price analysis: Is the downward trend through in the higher time frame and does the bullish trend continue?

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Solana (SOL) hat in den letzten Wochen eine beeindruckende Performance gezeigt. Nachdem der Token am 10. Juni auf ein Tief von 12,8 USD gefallen war, hat er fast 53 % an Wert gewonnen. Die Preisdiagramme zeigen einen eindeutig bullischen Trend und eine bullische Marktstruktur für SOL. Der höhere Zeitrahmen von Solana zeigt 22,3 USD als Schlüsselniveau auf, auf das man achten sollte. Wenn die Preise über dieses Niveau steigen, könnte dies ein Zeichen für einen Aufwärtstrend im täglichen Zeitrahmen sein. Die kurzfristige Entwicklung von SOL war ebenfalls bullisch und der Aufschwung von 18,5 USD könnte über 21,3 USD hinausgehen, wenn …
Solana (Sol) has shown impressive performance in the past few weeks. After the token had fallen to a low of $ 12.8 on June 10, it gained almost 53 % in value. The price diagrams show a clearly bullish trend and a bullish market structure for Sol. The higher time frame from Solana shows 22.3 USD as a key level that you should pay attention to. If the prices rise above this level, this could be a sign of an upward trend in the daily time frame. The short -term development of Sol was also bullish and the upswing of $ 18.5 could go beyond $ 21.3 if ... (Symbolbild/KNAT)

Solana (Sol) has shown impressive performance in the past few weeks. After the token had fallen to a low of $ 12.8 on June 10, it gained almost 53 % in value. The price diagrams show a clearly bullish trend and a bullish market structure for Sol.

The higher time frame of Solana shows 22.3 USD as a key level that you should pay attention to. If the prices rise above this level, this could be a sign of an upward trend in the daily time frame. The short -term development of Sol was also bullish and the upswing of $ 18.5 could go beyond $ 21.3 if the purchase pressure increases.

On the 1-day chart, however, there is a possible complication near the $ 22. Bitcoin also had a bullish tendency for the higher time frame, but got stuck in a lower time frame area. As long as the BTC bulls can drive the prices over the range of $ 31.6,000 to $ 32,000, the SOL bulls could prevail and force strong performance on the chart.

Although Sol is in a downward trend over a longer period of time, the market structure was bullish in the daily time frame. An outbreak of $ 22.3 could indicate an upward trend. The RSI shows an upward dynamics, but the OBV could not break a local resistance, which indicates a certain weakness of the buyer. SOL prices could be temporarily rejected by the level of $ 20.5 and $ 21.31.

The open interest diagram shows that the market mood is clearly bullish. The open interest rose in parallel to the prices, which indicates optimistic beliefs of the speculators.

Overall, the price development of Sol has been good in the past few weeks. Although the buying pressure was not too strong, the positive performance could continue, especially if Bitcoin continues to increase. Investors should keep an eye on the key level of USD 22.3 to pursue the development of Solana in the coming days and weeks.