SOL Fails To Notch New 60-Day Peak, Despite Recent Advances

Price movement for Solana (SOL) looks outright bullish but at the same time sluggish as it’s unable to keep up with buyer demands. Solana is currently trading sideways forming an ascending triangle pattern. The 50-day EMA serves as its support level. Buyers were on a shopping spree last night which kickstarted the volume pumping it up at 140%. The bulls are in control of SOL price moving it higher, while the bears are trying to take over. Bitcoin’s massive sell-off has impacted other altcoins including SOL. If the current momentum doesn’t swerve in a specific direction, SOL could be stuck in between. Related Reading: CryptoDickbutts NFTs Erect Nearly 700% In Daily Sales Volume Massive Buying Activity Pushes Trading Volume Up The price action is currently exhibiting higher-highs specifically for SOL, but the bears were able to market it at the $46 zone. With that in mind, SOL is currently swinging within the ascending triangle pattern. According to CoinMarketCap, while stuck within the triangle pattern, SOL has nosedived by 4.68% or trades at $39.76 as of this writing. The uncertainty lingering with altcoin prices as it moves up inching near the trendline for the past couple of days has propelled buyers to buy aggressively pumping up the coin’s total volume at 140% or $1 billion overnight. Recently, SOL’s RSI breached the downsloping trending after it has touched the oversold mark. With that in mind, the bulls have the propensi...