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Solana Today: Technical indicator points to a bullish signal and trader sees potential for SOL to target US$ 121

2 min read
PortalCripto
Solana Today: Technical indicator points to a bullish signal and trader sees potential for SOL to target US$ 121
Source: Fundo: Turgay Koca (pexels) · Montagem PortalCripto — Solana Today: Technical indicator points to a bullish signal and trader sees potential for SOL to target US$ 121
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Solana (SOL) has returned to investors' radar after showing positive technical signs, even with the recent correction recorded in the market. At the time of publication, the price of the SOL cryptocurrency was quoted at US$ 77,60, with an increase of approximately 1% in the last 24 hours.

The move comes after Solana posted a strong recovery last week, when it came close to the US$ 83,00 region. Since then, the asset has gone through a correction, but managed to hold levels considered important by technical analysts, indicating that buyers are still paying close attention to the asset.

Solana gets a buy signal and trader points to a possible resumption of the rally

Market analyst Ali Charts highlighted that Solana showed a relevant change in its technical structure. According to the trader, the ATR Trailing Stop indicator turned to a positive position, moving below the cryptocurrency's current price, which represents a possible trend change.

According to the analysis published by the specialist, this move marked the first buy signal from the SuperTrend for Solana since October 10. The indicator is used by traders to identify changes in market direction and possible entry opportunities.

“Solana turned bullish. The ATR trailing stop flipped below the price, marking the first SuperTrend buy signal since October 10,” said Ali Charts.

The trader believes that, if buying pressure continues to increase, SOL could begin a new upward move. In this scenario, the next technical targets pointed out are around US$ 96,00 and, subsequently, in the region of US$ 121,00.

The projection indicates that a more consistent recovery will depend on Solana's ability to overcome important resistances and maintain buying volume. If the market confirms the reversal, these levels could become relevant targets for the asset's next moves.

Solana resistances and supports

In the short term, the main resistance observed for Solana is close to US$ 86,00. A strong break above this region could open room for a new upward attempt and lead the price to higher zones.

Solana resistances and supports — In the short term, the main resistance observed for Solana is close to US$ 86,00. A…
Contexto visual associado à secção «Solana resistances and supports — In the short term, the main resistance observed for Solana is close to US$ 86,00. A strong break above this region could open room for a new…».

On the other hand, buyers need to defend important support regions. The US$ 72,00 range has been functioning as a protection area in the short term, while a loss of this level could increase selling pressure and lead SOL back to the region of US$ 64,00.

In addition, Ali Charts highlighted that the US$ 60,00 level continues to be a decisive zone for maintaining the positive outlook. According to the analyst, a drop below this support could invalidate the bullish scenario and indicate a possible resumption of the negative movement.

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