Finding stability around the $124 level, Solana is showing some interesting signs on the 1-hour chart. Despite the broader market volatility we’ve seen recently, SOL is currently holding its ground and even picking up a bit of momentum.
Looking at the technicals, the price is pushing back above the 7-period Moving Average (the yellow line), which often signals a short-term recovery. It’s also sitting right on top of the 99-period Moving Average (purple), acting as a solid floor for now.
Why this looks promising:
* Strong Support: The $122.36 level held up well during the last dip, creating a clear "bottom" for this local range.
* Momentum Shift: We’re seeing a series of green candles forming as buyers step back in to defend the $124 mark.
* Healthy Volume: Trading activity remains steady, showing that there’s still plenty of interest in SOL even as we approach the end of the year.
If it can clear the immediate resistance near $125, we might see a quick run toward the $128 zone. It's definitely one to keep a close eye on for a potential breakout.
What’s your move? Are you holding for a bigger bounce or playing the range?
#solana #SOL #cryptotrading #BinanceSquare #TechnicalAnalysis $SOL
