Crypto
Solana's Bullish Signal Sparks Relief Rally Hopes
Solana's SuperTrend indicator has flipped from Sell to Buy on its daily chart for the first time since January, according to analyst Ali Martinez.
This shift suggests a potential relief rally for SOL, which has been stuck in a six-week consolidation range between $77 and $92.
The token briefly touched a one-month high of $97 earlier this week before pulling back to $90 on Wednesday.
Martinez noted that the UTXO Realized Price Distribution metric shows a demand floor between $82.60 and $85.55, where 76 million SOL tokens changed hands.