Solana is growing inside Rising Parallel Channel

Solana is growing inside a parallel rising channel after the week closes slightly bullish.

Solana price today is $199.23 USD with a 24-hour trading volume of $1,796,110,041 USD. Solana is up 1.47% in the last 24 hours, with a market cap of $61,550,315,566 USD. It has a circulating supply of 308,938,820 SOL coins.

Solana is growing: Analysis

Solana price is hovering above EMA 20 in an hourly chart and making base above $197, fib 0.786 locally. Though it’s nearing again the lower side of the parallel channel there’s strong support there near EMA 50 as Solana has been respecting the bottom line since December 23. As far as resistance is concerned, we have a local resistance at the top of the December 7 price level of $204, as marked in the chart above.