Solana (SOL) shows potential for price recovery despite recent decline. Buy signal from TD Sequential, strong support near lower Bollinger Band, and robust network fundamentals with growing TVL and trading volume.
The crypto has seen a 4.91% price increase over the past 24 hours, despite recording an 11.43% decline over the last seven days. Its 24-hour range of $180.35 to $192.86 reflects a consolidation phase, while the 7-day low of $176.72 indicates strong support near the lower Bollinger Band.The TD Sequential indicator has issued a buy signal on the daily chart, raising anticipation of a price recovery.
Crypto analyst Ali (@ali_charts)“This signal is often a precursor to strong bullish momentum, suggesting an opportunity for long positions at these levels.”According to the daily chart, the Bollinger Bands suggest oversold conditions, with SOL trading near the lower boundary at $176.52. Resistance lies at $213.88, which aligns with the midline of the Bollinger Bands, and $251.24, the upper boundary. A breakout above these levels could fuel further momentum, though a drop below $186 may lead to a decline toward $165, a historically important demand area. The Average Directional Index (ADX) currently stands at 33.39, which confirms the strength of the ongoing trend. While the recent bearish momentum has persisted, the ADX level signals that any breakout above resistance could drive a strong upward movement.Solana’s network fundamentals remain robust, with its Total Value Locked (TVL) at $8.312 billion, reflecting a 1.83% increase over the last 24 hours.stablecoin market capitalization at $4.972 billion and generated $3.08 million in fees and $1.54 million in revenue within 24 hours.Ethereum (ETH) and other competitors in December, with a trading volume of over $97 billion compared to Ethereum’s $74 billion. The platform’s active addresses stand at 4.16 million, with 70.34 million transactions processed in the last 24 hours.shows mixed signals in the derivatives market. Open interest increased by 8.85% to $4.68 billion, while options volume surged 301% to $10.1 million, reflecting increased speculative activit
SOLANA PRICE ANALYSIS BUY SIGNAL BULLISH MOMENTUM NETWORK FUNDAMENTALS TOTAL VALUE LOCKED TRADING VOLUME
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