Solana trades up amid early session breakout above $83.00 support

From tradersunion.com

Solana is trading at $85.88, sitting above both its SMA-20 ($83.17) and SMA-50 ($85.50), but well beneath the long-term SMA-200 ($130.05). This positioning confirms constructive short- and medium-term bias with long-term resistance still present, while the Ichimoku Kijun at $85.09 acts as immediate resistance. Geopolitical instability in the Middle East has intensified, with the US-Iran blockade of the Strait of Hormuz producing downward pressure on Solana as institutional investors and derivatives markets respond to increased global risk. Entities linked to the bankrupt FTX exchange and Alameda Research have ... (full story)