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Solana price regains important support
SOL's technical analysis on the daily timeframe shows a 33% recovery from June 10. Before the rally, a long lower wick, considered a green icon, emerged as a sign of buying pressure.
The significance of this increase has to do with the price regaining the $17 horizontal area. The area was expected to provide resistance, but after the initial rejection on June 20, Solana price climbed above the zone and reached $20 on June 30.
SOL price is currently trading slightly below a descending resistance line that has been in effect since April 17. Breaking this line could further accelerate the rate of increase and confirm the start of the uptrend.
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