Tentatively higher from an earlier low of $24.18, SOL is up to $24.82 today, adding $0.519, or 2.13%, to today's closing price of $24.3.
Solana made an initial breakout above its 3 day Simple Moving Average at $24.77, a potential indicator of a newly emerging bullish phase. Despite this, Solana is 19 cents away from testing key resistance at $25. Peaking above this level could inspire market bulls and open the path to further gains.
Overall, looking at the technical analysis landscape, it seems Solana might continue pointing upwards in the short term.
Solana shows positive signs, other assets are also on par: FTX Token soars 9.54% to trade around $1.36. Binance Coin is up 3.9%. MaticNetwork USD moves up 3.77% to trade around $1.03.
This year has been a bright one for SOL after trading as low as $9.64 and going on to appreciate by 151.27% year to date. SOL is currently trading with a market cap of 9.22 billion with an average daily volume of 250.23 million.