Solana Gains 11% In 2 Days As SOL Cruises Near Resistance Zone

The 11 percent gain of Solana from its dip on September 7 comes after months of turbulent market conditions. A tenth of that may be meaningless by the time this is published. The market is currently trending upwards. The market bottomed out at $33.79 on Wednesday before falling 9.29% to $30.89. At this point, both the CCI and the Stoch RSI for SOL showed that the crypto had been oversold. While SOL was recovering over the course of eight hours, trading volume decreased from the sell-off of 1.650 million to 1.280 million. Related Reading: Ethereum Plunges 21% In Last 7 Days, Drops Below $1,600 Solana Bulls Unfazed By Pressure The dip was relatively minor, and the bulls continued to push higher. One of the largest positive price movements ever since SOL was introduced was a 16.55 percent increase. Recent research indicates that this price action is very bullish. We can be upbeat about the price moving as high as $36.50 if it manages to end above the long accumulation zone tension ($33.05) on the charts. From the most recent available data, we can see that the current support line is located somewhere around the $32.40 price range, but the price has been trading much higher, near $35.26, recently. Chart: TradingView.com Since breaking through several near-term resistance levels at the 50, 38.2, and 23.6 Fib levels, the price of SOL has maintained its support. SOL is attempting to merge its position above the 23.6 Fibonacci level ...