Solana Price Recovers after Brief Range Sweep, Bullish Divergence Signal Emerges

Solana's price has experienced a notable recovery after briefly touching both the upper and lower boundaries of its recent trading range. This brief sweep has led to analysts highlighting a bullish divergence signal, which could potentially strengthen on higher timeframes if the support level holds.

According to traders, the breakdown at the lower boundary of the range was taken back as liquidity swept through the market, indicating a potential turning point for Solana's price action. The cryptocurrency is currently trading above its $75 support level, with some analysts predicting a potential move back towards the $100 area.

On the 4-hour timeframe chart on Coinbase, Solana is seen moving within a defined accumulation range. Analysts from CryptoCurb have stated that as long as the $75 area holds, the chances of a move back towards the $100 area remain open.