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Solana price shows massive bullish divergence

 


Against BTC, the Solana price is already up around 60% last week. Is Solana Price Up Another 40% Now?


Solana price is showing a massive bullish divergence on the daily chart

Solana price shows massive bullish divergence in MACD RSI and histogram. In addition, the histogram in the daily chart is ticking bullishly higher and the MACD lines are also bullishly crossed. Things are looking very bullish for the Solana price right now, at least in the short term.


At around USD 39 and USD 46, the first significant Fibonacci resistances are waiting for the SOL course.


Significant support is waiting for the Solana price between USD 18 – 22 on the downside.


Is the Solana price going to $100 now?

Also in the weekly chart, the histogram of the MACD is now bullishly ticking higher. However, the MACD lines are still crossed bearish and the RSI is neutral.


Should Solana break the Fibonacci resistances at around USD 39 and USD 46, the next significant Fibonacci resistances are waiting for the SOL course at around USD 70 and at the USD 100 mark.


Solana price could close this month in bullish fashion

This is the first time Solana has been in a down move for three straight months since trading on FTX. Most recently, this would have happened by a hair at the beginning of 2022, but then the monthly candle turned bullish.


Exactly the same could happen this time. If Solana closes above $46 on the first day of the new month, the pattern would hold and Solana would never have been in a down move for more than two months at a time.


Against BTC, Solana price surged around 60% last week

Against BTC, the Solana course has already rebounded violently and is up around 60%. The histogram of the MACDs has also been ticking bullishly higher since last week. The next significant Fibonacci resistances are around 0.00184 BTC and between 0.0023 – 0.00245 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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