Will the SOL bulls be able to stay in control?

As of June 10, it shows a recovery of 33%. Before the rally, a long lower wick, considered a green icon, emerged as a sign of buying pressure.
The significance of this increase has to do with the price regaining the $17 horizontal area. The area was expected to provide resistance, but after the initial rejection on June 20, Solana price climbed above the zone and reached $20 on June 30.
SOL price is currently trading slightly below a descending resistance line that has been in effect since April 17. Breaking this line could further accelerate the rate of increase and confirm the start of the uptrend.
The daily Relative Strength Index (RSI) is giving a bullish signal. RSI is a momentum indicator used to assess whether a market is overbought or oversold.
The RSI has broken above 50 and is rising as a decisive sign of an uptrend.
Analysis of wave patterns on the daily timeframe shows bullishness. Technical analysts use Elliott Wave theory to determine trend direction, study long-term price patterns and investor psychology. The wave count indicates that the SOL price will break out of the resistance line and continue to rise towards the next resistance level at $26.
Based on the wave number, SOL price seems to have completed its ABC retracement structure since April 15. The correction is confirmed by the overlap between the low of wave A and the current high.
So, if the count is correct, SOL price started an upward move on June 10 (white) and will eventually break the resistance line. In this case, it will likely hit the next resistance level at $26.
However, a drop in SOL price back to the $17 support zone will indicate that the trend is still bearish.
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