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Will Solana Reclaim $180 Before the Month-End? Here’s What’s Next for SOL Price Rally
Solana’s price has been on a rollercoaster ride in recent times, with its market performance being anything but consistent. Despite its failure to break above the pivotal resistance, bulls have managed to push it back up from the bearish influence that had taken over. As we approach the month-end, investors are eager to know whether Solana can reclaim $180.
Currently, the SOL price is stuck within a narrow range between $169 and $176, indicating a lack of momentum in either direction. The recent drop below the ascending trend line has led to some degree of bearish influence, but there is still room for bulls to thrive before the month-end.
The MACD indicates that there could be still some space for bears to continue their influence as selling volume is yet to fade away. Furthermore, the Chaikin money flow continues to trade below 0, hinting at a weakness in the market and allowing bears to dominate the current trend.
However, it’s crucial to note that optimism surrounding spot ETFs has brought about a growing sense of confidence among traders. This could potentially result in a strong upswing for Solana in the long term.
Source: coinpedia.org
