Solana (SOL) has started the year with strong bullish momentum, reclaiming the critical $130 level and currently trading at $137.66. Over the past week, Solana has gained 11.1%, with a 14-day increase of 10.9%, indicating sustained positive sentiment. The cryptocurrency has fluctuated between $133.42 and $139.58 in the last 24 hours, with $139.58 identified as the next significant resistance level.
Technical indicators suggest further potential for growth. The Ichimoku Cloud shows Solana breaking into a crucial resistance zone, with the upper boundary at $144 posing a potential challenge. The Directional Movement Index supports the bullish trend, with the +DI line above the -DI line and an ADX of 22.35 indicating strengthening trend momentum.
Additionally, Solana's development activity is on the rise, as reported by Santiment, reflecting increased contributions and improvements to the network. This surge in development activity often correlates with long-term confidence in the project, further supporting the bullish outlook for Solana.
Solana Surges 11.1% as Development Activity Boosts Bullish Momentum
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