Although Solana (SOL) has been following the wider sentiment in the cryptocurrency sector, going through a bit of a setback in the last few days, during which this digital asset recorded a weekly decline of nearly 10%, its price could be finally looking at a significant breakout.
Specifically, Solana seems to be preparing for the next leg higher, considering its 50-day exponential moving average (EMA) has caught up to its price, flashing a ‘buy,’ as well as printing higher lows again, as per the observations by crypto analyst Jelle shared in an X post on February 23.
On top of that, according to the pseudonymous crypto market specialist, the fifth-largest digital asset by market capitalization is currently looking at a major resistance level in the area of $125, the breaking of which could trigger a massive takeoff, as “all bets are off.”
Solana price action analysis. Source: CryptoJelleNL
Solana price analysis
As things stand, Solana is currently trading at $101.4
We współpracy z: https://finbold.com/all-eyes-on-125-as-solana-prepares-for-takeoff/
