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Solana (SOL) Price Breaks Resistance Levels, Indicating Bullish Trend Reversal

Solana's price has broken through significant resistance levels, indicating a new bullish trend reversal. The weekly time frame shows a breakthrough of a descending resistance line that had been in place for 600 days, further supporting this possibility.

The breakout is backed by the weekly Relative Strength Index (RSI), which is currently above 50 and displaying a higher low. The daily time frame also shows an increase in price since June 10, with the price breaking out from a descending resistance line and reclaiming the $26 horizontal area.

The daily RSI gives a bullish reading, and the price is expected to continue towards the next resistance area at $38. However, a close below $26 could invalidate the breakout and cause a drop to $20.

Solana Solana $237.69
-6.39%
Solana
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