Solana Analysis: SOL is Gearing For a Return to $140 Following Bullish MACD Convergence

Over the last seven days, Solana has seen a rollercoaster of price ranges. Many traders were left shocked at the fact that it did not surge with Bitcoin and Ethereum. Additionally during the previous week, it struggled to hold prices above key support. While this trend is changing, it is important to examine how it performed to understand the critical levels to watch in the coming days.

A look at the 1-day chart clearly shows that the previous week was the most bearish for the asset under consideration as it lost notable value. The first five days of the period were some of the most negative as there were no positive candles during this time.

The decline started on Monday after its failed attempt at surging. This comes after it faced strong rejections at $114. During the next intraday session, it edged close to a retest of $100 but rebounded. The test finally came on Wednesday when SOL found support at the mark. Nonetheless, it broke the said mark on Friday as it dropped to a low of $98.

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