Solana's price has broken the $200 barrier, reaching new highs. Despite a significant influx of SOL tokens into Kraken, typically a sign of bearish sentiment, the bullish momentum for Solana remains strong. SOL has broken above a descending parallel channel, indicating a potential reversal to bullish momentum. The coin has also surpassed its 20-day Exponential Moving Average and its Moving Average Convergence Divergence (MACD) indicator supports a bullish outlook. If the momentum continues, SOL's price could break resistance and reach its all-time high. However, a surge in selling could invalidate this bullish outlook and cause a drop in price.



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