The 1-day chart of Solana remained firmly bearish but the shorter timeframes showed bullish momentum.
, in particular, experienced the lion’s share of the gains, as evidenced by the rising Bitcoin Dominance trend.higher lows
since 15 June. It also broke past a recent lower high on 21 June to break the bearish market structure. The subsequent higher high and higher low have initiated an uptrend on the H4 chart. Yet, the daily chart remained firmly bearish. The $18.66 and $22.3 are important levels for the bulls to breach on the 1-day chart. Meanwhile, the H4 chart showed strong resistance in the $18.66-$19.3 zone. A bearish order block was seen in this area, highlighted in red.
Hence, a move into this resistance was likely, based both on the structure and the momentum of the past week. The OBV has also risen past a local resistance. Thus, buying pressure could propel prices higher.Sentiment shifts to bullish as SOL bulls try to keep the rally goingOn 22 June, when the price of Solana slipped lower from $17.4 to $16.8, the Open Interest descended by close to $19 million. This showed discouraged bulls and bearish sentiment.
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