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Solana (SOL) Price Outlook Suggests Bearish Trend Despite Recent Gains

Solana (SOL) has seen gains of 15.95% in the past week, bringing its current price to $18.73. While still far from its all-time high of $260, recent gains have pushed it closer to the $20 level.

However, SOL is currently in a sideways trend and bears are active this week, as indicated by a small red candle on the weekly chart and its position in the lower region of the Donchian Channel.

The Relative Strength Index is neutral and the Moving Average Convergence/Divergence shows a bearish signal, but an increase in decentralized exchange volume could boost SOL's price in the coming week.

Solana Solana $237.95
-5.84%
Solana
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