Solana MACD Curling Up – Is This The Prelude To A Breakout? 📈
Solana (SOL) is showing renewed signs of strength with technical indicators hinting at a potential breakout. The MACD is curling up, crossing above the signal line on the weekly chart, hinting at a bullish signal that often precedes significant price movements. Traders are keenly watching to see if this shift marks the beginning of a larger rally.
Market analyst Willjayducks noted a bearish divergence on Solana's chart. As the price surged to its blow-off top, RSI and MACD showed weakening momentum, a pattern typically preceding sharp corrections. Following this, Solana dropped by approximately 67% within 84 days, indicating the bearish divergence "arguably played out," suggesting the correction phase may be ending.
With the MACD now curling upward and crossing above the signal line, this implies downward pressure may ease, setting the stage for potential recovery. If SOL can sustain this momentum, it could confirm a trend shift by crossing the zero line, possibly pushing toward new highs. However, the analyst cautioned, watching for bearish divergence signals which might signal an overheated market.
Despite bullish signals, the analyst warned of a possible bear trend continuation if momentum isn't strong enough for a reversal. He emphasized monitoring price action closely and preparing for all outcomes, be it a rally or prolonged downside movement, advising alertness and adaptability.
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