---
title: "Why is the Solana (SOL) Price Up Today?"
url: https://diffcoin.com/why-is-the-solana-sol-price-up-today-2/
description: "Solana broke above the key resistance at $126 and in the process made a new local high. In the following, we take a look at a few technical indicators"
published: 2024-02-29
updated: 2024-02-29
author: "Mila"
site: "Diffcoin"
---

# Why is the Solana (SOL) Price Up Today?

Solana broke above the key resistance at $126 and in the process made a new local high. In the following, we take a look at a few technical indicators that might provide some insights into why SOL’s price is up today.

**Key Support levels: $126**

**Key Resistance levels: $163**

## 1. Resistance Turns into Support

The resistance at $126 was overrun by buyers today and they managed to turn it into a key support. If this level holds, then the next target is found at $163. Since Solana just made a higher high, the price action is bullish.

![SOLUSDT_2024-02-29_16-25-45](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAyNDM5IDExODQiIHdpZHRoPSIyNDM5IiBoZWlnaHQ9IjExODQiIGRhdGEtdT0iaHR0cHMlM0ElMkYlMkZjcnlwdG9wb3RhdG8uY29tJTJGd3AtY29udGVudCUyRnVwbG9hZHMlMkYyMDI0JTJGMDIlMkZTT0xVU0RUXzIwMjQtMDItMjlfMTYtMjUtNDUucG5nIiBkYXRhLXc9IjI0MzkiIGRhdGEtaD0iMTE4NCIgZGF0YS1iaXA9IiI+PC9zdmc+)

Chart by TradingView

## 2. Volume Returns

Today’s volume reached levels not seen since January and turned the momentum indicators bullish. With buyers back in control of the price, Solana has a good chance at higher levels.

![SOLUSDT_2024-02-29_16-26-56](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAyNDM4IDExODMiIHdpZHRoPSIyNDM4IiBoZWlnaHQ9IjExODMiIGRhdGEtdT0iaHR0cHMlM0ElMkYlMkZjcnlwdG9wb3RhdG8uY29tJTJGd3AtY29udGVudCUyRnVwbG9hZHMlMkYyMDI0JTJGMDIlMkZTT0xVU0RUXzIwMjQtMDItMjlfMTYtMjYtNTYucG5nIiBkYXRhLXc9IjI0MzgiIGRhdGEtaD0iMTE4MyIgZGF0YS1iaXA9IiI+PC9zdmc+)

Chart by TradingView

## 3. Bullish Cross on MACD

The daily MACD made a bullish cross after some hesitation yesterday. This confirms the bullish bias and sets the stage for Solana to move to the next key target at $163, as long as buyers keep this momentum.

![SOLUSDT_2024-02-29_16-27-48](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAyNDM4IDExODQiIHdpZHRoPSIyNDM4IiBoZWlnaHQ9IjExODQiIGRhdGEtdT0iaHR0cHMlM0ElMkYlMkZjcnlwdG9wb3RhdG8uY29tJTJGd3AtY29udGVudCUyRnVwbG9hZHMlMkYyMDI0JTJGMDIlMkZTT0xVU0RUXzIwMjQtMDItMjlfMTYtMjctNDgucG5nIiBkYXRhLXc9IjI0MzgiIGRhdGEtaD0iMTE4NCIgZGF0YS1iaXA9IiI+PC9zdmc+)

Chart by TradingView

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[Source link](https://cryptopotato.com/why-is-the-solana-sol-price-up-today-3/)