6.3% rally heated by Defi demand and volume

The cryptocurrency market continues to respond to broader economic factors, since Solana shows the resilience in the middle of global trade unconcursions. The price campaign of SOL formed a clear upward trend with higher deep stalls and higher highs, whereby the most important level of resistance with the institutional volume on accumulation, despite a short correction of 1.35%, broke out in the last few hours. In the meantime, analysts indicate the level of $ 166.82 as a decisive short-term speed, whereby the potential for a significant upward movement if sol can maintain an impulse of $ 177.

Highlights for technical analysis

• Sol rose from a low of $ 159.69 to a high from $ 173.03, which corresponds to a significant range of $ 13.34 (8.35%).
• The price campaign formed a clear upward trend with higher low and higher highs, with the key resistance of $ 166.87.
• The above-average volume was observed around $ 167 to $ 170, which indicates strong buyer interest.
• Remarkable support for $ 160.34, in which the buyers were convicted during the early hours of the morning.
• The last four hours showed an accelerated impulse, with volume tips exceeding the 24-hour average, which indicates institutional accumulation.
• In the last 60 minutes, a short downward correction occurred, which fell from $ 172.19 to $ 169.87 (1.35% falling).
• The psychological level of $ 170.00 acted as support shortly before failure.
• The last 30 minutes showed a decreasing volatility and the volume, which may indicate exhaustion of sales pressure.

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