Solana Price Skyrockets by 15%: Cryptocurrency Market Surges with SOL Momentum

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,324,040,811,436	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,324,040,811,436

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	5.70	0.01%	67,487.36	67,482.57	67,486.89

Price Change

Price Change %

Current Price

Bid Price

Offer

5.70

0.01%

67,487.36

67,482.57

67,486.89

High Price	Low Price	Open Price	Prev. Close	52 Week Range
67,653.06	67,371.28	67,502.32	67,481.66	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

67,653.06

67,371.28

67,502.32

67,481.66

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:55:44	0.001687	67,487.36	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:55:44

0.001687

67,487.36

USD

Price x Volume	Volume	Base Symbol	Related Pairs
17,131,069.70	253.67	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

17,131,069.70

253.67

Solana Price Skyrockets by 15%: Cryptocurrency Market Surges with SOL Momentum

16/05/2024 6:48am

NEWSBTC

Solana started a fresh increase above the $150 resistance. SOL price is up nearly 15% and might continue to rise if it clears the $165 resistance. SOL price recovered higher and tested the $162 resistance against the US Dollar. The price is now trading above $150 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $148 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could clear the $165 resistance unless it fails to stay above $158. Solana Price Starts Fresh Surge Solana price formed a support base near the $138 level and started a fresh increase. SOL outperformed Bitcoin and Ethereum and moved into a positive zone above the $150 level. There was a break above a key bearish trend line with resistance at $148 on the hourly chart of the SOL/USD pair. The pair even $155 resistance and spiked above $162. A new weekly high was formed at $163.76, and the price is now consolidating gains. It is holding the 23.6% Fib retracement level of the upward move from the $141 swing low to the $164 high. Solana is now trading above $160 and the 100 simple moving average (4 hours). Immediate resistance is near the $165 level. The next major resistance is near the $172 level. A successful close above the $172 resistance could set the pace for another major increase. The next key resistance is near $180. Any more gains might send the price toward the $188 level. Are Dips Supported in SOL? If SOL fails to rally above the $160 resistance, it could start a downside correction. Initial support on the downside is near the $158 level. The first major support is near the $152 level. The 50% Fib retracement level of the upward move from the $141 swing low to the $164 high is also at $152, below which the price could test $150. If there is a close below the $150 support, the price could decline toward the $138 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $158, and $152. Major Resistance Levels – $165, $172, and $180.

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