The crypto market has opened the week on a mixed-signal of bearish pull as well as bullish push. Among the altcoins that are still under the control of bulls is Solana (SOL).
Solana has bounced its previous resistance which had paused its recovery phase during the November 2021 – March 2022.
Solana Raise Bullish Hope For April!
As most of the Altcoins were facing a bearish pull along with king currency Bitcoin, there was Solana among a few managing to hold a bull run. During the weekdays, Solana saw a 29% gain from the $105 range.
However, the bulls slightly lost their control during the weekend as the currency was having a tough time sustaining above the $135 range.
The chart below from TradingView shows higher price rejection candles at $135 resistance.
Solana had a hard time during the first three months of 2022 due to the descending triangle pattern. Usually, this bearish triangle pattern gives an opportunity for selling pressure after the currency sees a breakdown from the bottom support line.
However, on March 18th, the SOL Price saw a breakthrough from the price’s descending triangle pattern and SOL raised above the $120 mark with a gain of 55% in just two weeks. This breakthrough pushed Solana’s price towards $144.5 which is SOL’s highest in the last two months.
At the time of writing, Solana has slightly dropped as it is trading at $135.93 with a plunge of 1.52% over the last 24hrs. If the bulls manage to tackle and come back in power, then Solana might see a rally towards $152 and if this doesn’t happen then the price might drop to $120 or even $105 levels again.
Solana Foundation Gear Up For Miami Hacker House Event!
Miami Hacker House event, hosted by The Solana Foundation which is scheduled for April 5th will run for six days. The event will offer guidance and mentorship for focused developers and this guidance will be provided by the core Solana Labs engineers.
The event will also have informative and educational programming courses about NFTs and DeFi providing detailed information on how to get started with dApps development on Solana.