Solana, one of the top performers in the altcoins market, has seen a significant surge in price over the past week, nearing the $30 mark. With a successful breakout from a downtrend, Solana has experienced a major rally, boosting its price by over 25% in just one week. The current momentum has brought Solana close to the key resistance level at $25, and if it continues, the next target will be $28. However, reaching the significant resistance level above $30, which was the previous high from July, may prove challenging on the first attempt.
The recent bullish cross on the 3-day moving average convergence divergence (MACD) chart has sparked a buying frenzy and altered the market momentum in favor of Solana. This bullish bias is expected to last for a considerable period before a significant correction occurs. The short-term prediction for SOL price indicates that the key targets are $28 and $30, and based on the current rate of increase, Solana is likely to reach these levels. However, the sustainability of the price at those levels remains uncertain, as strong selling pressure has historically emerged after the price hit $30.
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