<em><strong>This SOL technical analysis shows that the SOL price action approaches the triangle pattern's breakout stage, making the traders give in to FOMO. So what should you do at this stage?</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>SOL prices have increased by 1.97% in the last 24 hours.</li>
 	<li>The price action shows a bullish attempt to exceed the 50-day SMA.</li>
 	<li>The 24-hour trading volume of Solana is $1.37 Billion, indicating a rise of 50%.</li>
</ul>
<h3>Past Performance of SOL</h3>
The SOL price action shows a symmetrical triangle pattern in the daily chart, with the 50-day SMA moving along with the resistance trend line. The buyers at the support trendline recently diffused a double top pattern and continue undermining the opposing SMA's rejections. Additionally, the morning star formed that the support trendline increases the likelihood of a bullish breakout.

<img src="https://s3.tradingview.com/snapshots/l/l27QFUuJ.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/l27QFUuJ/">Tradingview</a>
<h2>SOL Technical Analysis</h2>
The SOL prices struggle to find a bullish follow-through within the symmetrical triangle as the price action bottles up the pattern. However, traders may shortly find the breakout entry opportunity as the space within the pattern fills up.

The MACD indicator struggles to sustain a bullish bias as the fast and slow line teases a bearish crossover slightly below the zero line. Moreover, the falling trend in the positive histograms increases the likelihood of a downtrend continuation in the indicator.

The RSI indicator shows a lateral trend below the halfway line struggling to find support at the 14-day SMA. However, the morning star shows an increase in the underlying bullishness as the RSI slope jumps above the 14-day average line.

In a nutshell, SOL price action analysis suggests the <a href="https://www.cryptoknowmics.com/news/analyzing-the-roi-of-long-term-crypto-investors-and-day-traders/" target="_blank" rel="noopener">traders</a> relax and wait for the price action confirmation.
<h2>Upcoming Trend</h2>
If the buyers can propel the prices above the resistance trendline, SOL market value may jump to the overhead resistance of $42.

Conversely, if the support trendline fails to hold the bearish weight, a downtrend might drop to $28.

Resistance Levels: $42 and $50

Support Levels: $30 and $25

SOL Technical Analysis: Will Solana Take The Bullish Exit?

This SOL technical analysis shows that the SOL price action approaches the triangle pattern's breakout stage, making the traders give in to FOMO.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SOL Technical Analysis: Will Solana Take The Bullish Exit?

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