However, a bearish divergence in the OBV has raised concerns of a significant pullback. Solana’s ecosystem is thriving with over $6 billion in TVL, with 83% of SOL staked, making it a close watch amongst rising memecoin activity.
In the last few days, the SOL price has risen from $136 to $159, with a potential rise of over 16%.
However, as the pace of the bulls has reduced, there is a possibility of a pullback that may drag the levels below $150 somewhere between $148 and $149. If the price loses the 200-day MA, it may reach the lower support of the triangle at around $144.
Crypto markets are witnessing a bullish trend, with Solana’s volume increasing significantly over the last few days. Despite the drop in the volume, Solana remains the top-traded asset after Bitcoin & Ethereum, which keeps the bullish possibility of the token intact.
The Solana (SOL) price could maintain a healthy consolidation within an ascending triangle and reach the apex. This boost in volume is expected to push the price above the crucial resistance, keeping the bullish trend intact.
