The Solana (SOL) price broke out from long- and short-term resistance lines, going a long way in confirming that the price has begun a bullish trend reversal.
The SOL price has been on a tear since its June 10 low and shows no signs of weakness in either long- or short-term time frames.
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Solana Price Breaks out From 600-Day Resistance
A look at the weekly time frame shows that SOL broke out from a long-term descending resistance line last week. Before doing so, the line had been in place since the all-time high in November 2021, specifically for 600 days. Breakouts from such long-term structures usually indicate that the previous trend has ended and a new one has begun in the other direction.
In SOL’s case, the price has likely begun a new bullish trend reversal.
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Author: Valdrin Tahiri
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