SOL Breaks Key Moving Averages On Daily Chart, Signaling Bullish Momentum

IconCryptoNewsTerminal Staff15 Jul, 2024

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SOL Breaks Key Moving Averages On Daily Chart, Signaling Bullish Momentum

According to a recent analysis by crypto media outlet BeinCrypto, Solana (SOL) has broken key moving averages on the daily chart, signaling bullish momentum. SOL broke above the 50-day simple moving average (SMA) and the 200-day SMA, which are both considered key technical indicators. Additionally, SOL has been trading above the Ichimoku cloud, another bullish sign. The analysts at BeinCrypto believe that SOL is in a strong position to continue its upward trend in the coming weeks and months.