Solana is on a bit of a rollercoaster today: spiking to $14.09 only to drop back to $13.3, now rallying again to $13.77.
Chart analysis indicates Solana could be slowing down soon as it approaches resistance at $14.54. Of course, crossing it might suggest further gains are ahead. Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Price action remains constrained around the key Fibonacci level of $14.12 currently serving as resistance According to asset volatility analysis, Solana's upper Bollinger Band® is at $13.8, this is a slight indication of a slowdown.
Notwithstanding Solana's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
SOL shows positive signs, other assets are also on par: having closed the previous session at $1.33, NEAR Protocol is up 13.37% today to currently trade at around $1.51. FTX Token is up 11.21% to $0.986. Binance Coin gained 3.59% and is now trading at $254.94.
SOL has managed to gain 34.32% so far this year despite trading at lows around $9.64 previously. SOL has a market cap of 5 billion with an average daily volume of 81.94 million.