Fun

Solana Bounces Back: Bullish Wave Builds Above $155 After Sharp Dip

News Feed - 2025-06-11 05:06:40

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


In a recent poston X, crypto analyst Grayhoood observed that Solana (SOL)is currently showing signs of a bullish trend. Over the past 24 hours, the price has climbed by 2.8%, with candlestick charts revealing a noticeable upward trajectory.  Solana Stochastics And CCI Signal Short-Term Strength


Earlier in the day, SOL briefly dipped to around $151 but managed to recover steadily, reaching a current price of $155.35. Grayhoood pointed out that this short-term strength is consistent with Solana’s 7-day performance, which shows a modest 1.4% increase. However, the longer-term outlook remains volatile, with SOL still down by 3.9% over the past year.  Related Reading Solana Picture Bigger Than $420: Analyst Predicts 140% Surge To New ATHs 2 weeks ago


Grayhoood revealed that technical indicatorsare suggesting a cautiously optimistic outlook for SOL. As price action continues to show signs of recovery, the Relative Strength Index (RSI) is likely positioned in a neutral zone, indicating the recent uptick. This positioning allows space for further gains, but also signals a potentialshift into overbought territory if SOL’s price surges too rapidly. SOL’s recent performance | Source: Grayhoood on X


The Stochastic Oscillator and Commodity Channel Index (CCI) also point to short-term bullishmomentum, especially with SOL breaking through the $154 resistance level. These indicators suggest that buyers are regaining control. However, Grayhoood cautioned that while momentum appears to be building, the recent price dip observed earlier in the day reveals that sellers are not entirely out of the picture. Recovery Gains Traction, But Yearly Losses Still Weigh In


To further reinforce his claim, the analyst pointed to Solana’s moving averages, which currently present a mixed but insightful technical outlook. In the short term, the 7-day and 14-day moving averages hint at a hold or mild buying pressure. This aligns with SOL’s recent bounce from $151 to $155.35, signaling that momentummay be shifting in favor of the bulls. Related Reading Solana’s Old Hands Are Moving—Is Trouble Brewing? 4 days ago


However, when viewed from a broader lens, long-term averages continue to reflect lingering weakness. The 30-day and yearly trends, which show declines of 9.3% and 3.9% respectively, suggest that the larger marketremains cautious. These figures reveal that while the recent gains are encouraging, they have not fully reversed the bearish structure seen over the past months.


Overall, the analyst believes that despite the volatilityseen over the past few weeks, market sentiment is beginning to lean bullish in the short term. Solana’s recent performance, supported by its ability to reclaim key levels and maintain upward momentum, offers a more favorable outlook heading into the near future. If current trends persist and key resistances are successfully challenged, the path may open for a broader shift in sentiment. SOL trading at $157 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com

News Feed

TIME Partners With Cool Cats NFT Project, Business Magazine Fortune’s NFT Sale Raises $1.3M
TIME Partners With Cool Cats NFT Project, Business Magazine Fortune"s NFT Sale Raises $1.3M Two of the largest American news magazines, Fortune and TIME, have ju
How High Can Dogecoin Go If Bitcoin Hits $1 Million? Analysts Weigh In
Este artículo también está disponible en español. Long a wild card in the crypto scene, Dogecoin (DOGE) has been riding the waves of excitement, community passion, and ev
UK Regulator Allows 5 Crypto Firms to Operate With Temporary Registration
UK Regulator Allows 5 Crypto Firms to Operate With Temporary Registration Britain’s top financial regulator, the Financial Conduct Authority (FCA), has allowed five crypto f
Avalanche to reward devs building layer-1 chains with $40M grant
Ezra Reguerra11 hours agoAvalanche to reward devs building layer-1 chains with $40M grantAn Avalanche spokesperson told Cointelegraph that the grant program will reward developers who create layer-1 chains and critical t
E-Commerce Giant Ebay Acquires NFT Marketplace Knownorigin
E-Commerce Giant Ebay Acquires NFT Marketplace Knownorigin The e-commerce and online auction giant Ebay has announced the company has acquired the non-fungible token (NFT) marketpl
Crypto Faces Uncertain Future As Trump’s ‘Short-Term Pain’ Plan Unfolds
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Coinbase Receives In-Principle Approval to Provide Crypto Services in Singapore
Coinbase Receives In-Principle Approval to Provide Crypto Services in Singapore Singapore’s central bank, the Monetary Authority of Singapore (MAS), has given Coinbase “
Japan and Philippines Discuss Pro-Crypto Laws, Cooperation Among Asian Countries
Japan and Philippines Discuss Pro-Crypto Laws, Cooperation Among Asian Countries Japanese Minister Naokazu Takemoto and Philippine Cabinet member Raul Lambino of Crypto Valley of
Local Council Member in Ukraine Declares 124 BTC and 500 Tesla Shares
Local Council Member in Ukraine Declares 124 BTC and 500 Tesla Shares A government official in Rivne region of Ukraine owns close to $8 million in cryptocurrency and 500 Tesla shar
Cleanspark Boosts Bitcoin Mining Capacity With Acquisition of 20,000 Bitmain Rigs
Cleanspark Boosts Bitcoin Mining Capacity With Acquisition of 20,000 Bitmain Rigs Bitcoin mining operation Cleanspark has acquired 20,000 brand-new Bitmain mining rigs for $43.6 mi
US Seizes 94,636 Bitcoin From 2016 Bitfinex Hack in ‘Largest Crypto Seizure to Date’ — 2 People Arrested
US Seizes 94,636 Bitcoin From 2016 Bitfinex Hack in "Largest Crypto Seizure to Date" — 2 People Arrested The U.S. Department of Justice (DOJ) has announced the seizure of 94,636
JPMorgan’s Analysis Shows Institutional Investors Moving From Gold ETFs to Bitcoin
JPMorgan"s Analysis Shows Institutional Investors Moving From Gold ETFs to Bitcoin JPMorgan has highlighted evidence of institutional demand for bitcoin and inve