In recent times, the Solana price has witnessed a considerable upward push, which made the coin breach important resistance levels. Over the last 24 hours, SOL has rallied close to 20%, and in a week’s time, the altcoin has appreciated close to 40%.
As Bitcoin’s price has remained above $20,000, most altcoins have shown positive price momentum on their respective charts. If Bitcoin continues to climb higher, then short-term bullish momentum will prevail across the market.
The technical outlook of Solana has pointed towards the bulls, but the chart also reveals that as the coin has been overbought, SOL would eventually witness a price correction. Accumulation remains high on the chart as demand for the coin has been at a multi-month high.
Solana could present