SOL was slightly higher on Tuesday, as prices rebounded following recent declines. The token bounced on its long-term support point earlier today, as bulls entered the market. MATIC also moved higher, colliding with its own price ceiling.SOL was trading marginally higher in today’s session, as prices rebounded following a four-day losing streak.
Tuesday’s rally saw SOL/USD hit an intraday peak of $35.64, with some now waiting to see if bulls will continue to push prices upwards.Historically, this current level has seen the birth of the last three bull runs, which typically take prices towards a ceiling of $40. As of writing, relative strength is tracking at 43.5, with a short-term ceiling nearby at 45. Should this point be passed, sentiment will likely have shifted towards the side of the bulls.Whilst SOL was bouncing from a support point, MATIC was colliding with a resistance level following today’s marginal gains.This peak saw the token move close to its recent ceiling at $0.5980, however it has since given way, as bulls likely secured gains and exited earlier positions.
SOL - Weekly chart - Major resistance levels added on the chart and RSI.
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