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- The price of the salt pans consolidated at $ 237.80, lingering on the market structure.
- The ecosystem has shown strong health and Solana is third in weekly NFT.
Solana ecosystem (Sol) has entered the critical phase of consolidation, with the property currently trading at $ 237.80, which has marked a slight drop of 0.22%in the last 24 hours.
Although the recent price of the price suggests a period of indecision, several technical indicators indicate interesting events below the surface.
Solana Technical indicators paint a complex picture
Solana movable average (ma) showed an intriguing pattern, with the Cross (50, 200, 200) currently set to 212.84 and 181.42.
This permanent positioning of the 50-day MA above the 200-day Ma keeps the golden cross, the traditional bull’s signal.
However, declining the slope of both moving average suggests the impairment of pressure in close.
Source: TraringView
Sol Bollinger Bands Reading 231.40 and 279.65, with a lower belt at 183.15, indicate a wider range of volatility.
This expansion usually precedes significant prices movements, although the direction remains uncertain given the current market structure.
Analysis of the volume and momentum of markets
The trading volume was fluttering, and the current volume at 211.13k salt. The volume profile reveals an interesting pattern.
The recent spikes coincided with the increase in prices, while consolidation followed after a gradual decrease in volume. This pattern emphasized the potential phase of the accumulation.
The MacD indicator was shown by bear crossover formation, although the histogram suggested that the weak swing downwards.
This technical formation, combined with the reading of the RSI of 55.05, put salt on a neutral territory with a light bias.
Solana Critical Level of Support and Resistance
The support and resistance indicator of Luxalgo revealed the key price levels, with current resistance to $ 264.63, and current support in the amount of $ 169.22.
The historical resistance zone was formed in the range of $ 260-280, based on a recent price of prices.
Source: TraringView
The Solana Price of Solan has created a clear consolidation pattern between these levels, and the region of $ 260 acts as a significant psychological barrier.
Multiple giggles of rejection at this level suggest strong sales pressure, while support of about $ 170 remained relatively unverified during the recent price action.
Market structure and growth of ecosystems
The total structure of salt markets remains bully in higher time frames, supported by growing The total value locked (TVL), as shown on the scales.
TVL held a way of ascending roads, almost reached $ 12 billion, indicating a sustainable institutional interest and growth of ecosystems.
Source: Defillma
Furthermore, Solana NFTs showed out extraordinary strength. NFT Slam data show it in third position in a weekly sales amount, with over $ 14.3 million transactions.
However, shorter time frames show signs of distribution, with lower maximums formed near a resistance level of $ 260. This deviations between prices and basic measuring data suggests the potential period of volatility ahead.
The immediate challenge for salt lies in piercing above the resistance level of $ 264.63. Successful violation could target recent highlights close to $ 280. Failure to break this level could lead to a 50 -day test of around $ 212.84.
Trade implications on salt
Traders should closely monitor the volume patterns and prices behavior near the established resistance levels.
WHyle declining MacD suggests caution in the immediate term, the total structure remains constructive above the 50-day ma.
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Powerful NTT -a -A market performance is a permanent growth of TVL to support potential moves upside down. However, the technical structure suggests carefully managing the position around the key resistance level.
