• The 4-hour chart of Solana showed bullish momentum in the five days following a price surge past resistance at $18.5.
• Solana’s current price is below the key level at $22.3, which needs to be broken for the daily trend to turn bullish and a rally to be triggered in the coming weeks.
• Short-term weakness in Open Interest gives bears an advantage, so traders must be prepared for range trading or a possible retest of support levels.

Solana [SOL] Price Prediction 2023-24

Solana [SOL] has shown signs of strong bullish momentum over the last few days, with prices breaking past resistance at $18.5 on the 4-hour chart. However, SOL currently remains beneath the key level at $22.3 which needs to be broken for a daily trend reversal and potential rally in the coming weeks. Short-term weakness of Open Interest further solidifies bearish control over prices, suggesting traders should prepare for range trading or even a retest of support levels before any significant breakthroughs occur.

Bullish Momentum on 4-Hour Chart

On the 4-hour chart, Solana showed strong bullish momentum in the five days after it broke past resistance at $18.5 and was flipped to support level that was then tested again by buyers causing SOL prices to move towards $22.3 over three days period whilst On Balance Volume (OBV) indicated growth in demand as buying volume pushed prices higher and firmly established market structure and trend as being bullish overall .

Open Interest Favors Bears

However short term weakness of Open Interest (OI) indicated that bears could have upper hand on this situation giving them advantage when it comes to defending their position from potential breakout from above mentioned key level indicating that SOL traders should remain patient when building swing positions as any breakout above mark could see swift decline if met with enough selling pressure before any significant sustainable rally can happen .

Key Level To Watch For Breakout

The key level of interest is $22.3-$22.5 where sellers will likely put up strong resistance against potential buyers attempting breakouts making it important area for traders as successful breakout attempt could result in rally while failure would most likely result in rapid selloff confirming bearish sentiment previously suggested by OI readings .

Conclusion: Odds Of Rally Unclear At This Point

At this point it is difficult to determine what are odds for potential Solana rally as there are multiple factors involved both favoring bulls and bears alike making it important for traders who want build swing positions invest time into researching current state of market before taking action .