- Solana’s price was consolidated at $ 237.80 while maintaining a bullish market structure.
- The ecosystem has shown robust health, Solana ranking third in the weekly volume of NFT sales.
The Solana ecosystem (soil) has entered a critical consolidation phase, the assets currently negotiating at $ 237.80, marking a slight drop of 0.22% in the last 24 hours.
Although the recent price action suggests a period of indecision, several technical indicators indicate interesting developments below the surface.
Solana’s technical indicators paint a complex image
The Mobile Middle Average of Solana (MA) have shown an intriguing scheme, the MA Cross (50, 200) currently positioned at 212,84 and 181,42, respectively.
This sustained positioning of the 50-day MA above the 200-day MA maintains the gold cross training, traditionally a bullish signal.
However, the drop in the slope of the two mobile averages suggests that the assembly of short -term sales pressure.
Source: tradingView
The readings of Bollinger soil bands of 231.40 and 279.65, with a band less than 183.15, indicate an extended volatility range.
This expansion generally precedes significant price movements, although management remains uncertain given the current market structure.
Volume analysis and market momentum
The trading volume has fluctuated, the current volume at 211.13K Sol. The volume profile reveals an interesting model.
Recent points have coincided with prices overvoltages, while consolidation has followed a gradual decrease in volume. This model highlighted a potential accumulation phase.
The MacD indicator has shown a lowering crossover forming, although the histogram suggests weakening the momentum down.
This technical training, combined with RSI reading of 55.05, placed soil in neutral territory with a slight lower bias.
Solana’s support and critical resistance levels
Luxalgo’s support and resistance indicator has revealed crucial price levels, with immediate resistance at $ 264.63 and current support at $ 169.22.
A historic resistance area was formed in the range of $ 260 to $ 280, based on recent prices action.
Source: tradingView
The action of Solana prices has formed a clear consolidation scheme between these levels, the region of $ 260 acting as an important psychological barrier.
Multiple rejection wicks at this level suggest high sales pressure, while support around the $ 170 bar has remained relatively not tested during the recent price action.
Market structure and ecosystem growth
The global structure of the Solana market remains optimistic on higher deadlines, supported by the increasingly locked total value (TVL), as indicated in the graphics.
TVL has maintained an upward trajectory, reaching almost $ 12 billion recently, indicating supported institutional interests and growth in ecosystems.
Source: Defillama
In addition, the NFT Solana have demonstrated remarkable strength. NFT Slam data show this in third position in weekly sales volume, with more than $ 14.3 million in transactions.
However, shorter deadlines show distribution signs, with lower ups to the resistance level of $ 260. This divergence between price action and underlying measures suggests a period of potential volatility to come.
The immediate challenge for soil lies in the break in the resistance level of $ 264.63. A successful violation could target recent heights nearly $ 280. The fact of not breaking this level could lead to a retaining of the 50 days of around $ 212.84.
Commercial implications against Solana
Traders should closely monitor volume models and price action behavior near identified resistance levels.
WHile The MacD in decline suggests prudence in the immediate term, the global structure remains constructive above the 50 days.
– Is your portfolio green? Discover the Solana profit calculator
Solid NFT market performance and supported TVL growth support potential upward movements. However, the technical structure suggests careful management of the position around the levels of resistance of the keys.
