Solana (SOL) has experienced a notable 7% surge in price, currently hovering around $239 after hitting an all-time high of $239.25 earlier today. This rise is fueled by increased trading volume, surpassing 36%, and a market cap that surged to $4.02 trillion. The recent positive momentum has pushed SOL’s price back above Bitcoin and Ethereum. The fear and greed index currently sits at 50, suggesting a neutral sentiment in the market. 24-hour trading volume for Solana has jumped by over 36%, reaching $3.53 billion, according to Coinglass data. A significant portion of this movement has been attributed to a liquidation event of $48.04 million on the Solana market. 36.14% growth in trading volume and a clear increase in technical indicators suggest bullish sentiment. Solana’s technical analysis suggests a positive momentum shift, with the MACD line crossing above the signal line, indicating potential upward price movement. Additionally, the Chaikin Money Flow (CMF) indicator currently sits at 0.29, reflecting strong buying pressure. Whether this upward trend will continue remains to be seen. Will Solana maintain its recent gains? Solana’s chart paints a picture of bullish momentum but with some potential challenges. The immediate resistance lies around the $239.29 level. A sustained price movement could trigger a crossover, leading to further price increase. However, a decline in market sentiment or bearish pressure might trigger selling. The daily RSI is currently at 79.88, indicating potential overheating. A pullback or correction might follow if momentum cools. Finally, Solana’s Bull Bear Power (BBP) reading of 20.46 suggests a clear dominance of bullish pressure over bearish pressures.