Solana (SOL) Rockets Over 10%: Analyzing The Bullish Trend

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,208,604,800,894	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,208,604,800,894

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	683.46	1.12%	61,574.60	61,574.60	61,574.61

Price Change

Price Change %

Current Price

Bid Price

Offer

683.46

1.12%

61,574.60

61,574.61

High Price	Low Price	Open Price	Prev. Close	52 Week Range
61,738.19	60,611.01	60,866.66	60,891.14	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

61,738.19

60,611.01

60,866.66

60,891.14

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:41:03	0.094961	61,570.42	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:41:03

0.094961

61,570.42

USD

Price x Volume	Volume	Base Symbol	Related Pairs
166,682,323.62	2,721.50	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

166,682,323.62

2,721.50

Solana (SOL) Rockets Over 10%: Analyzing The Bullish Trend

28/06/2024 6:14am

NEWSBTC

Solana started strong increase above the $135 resistance. SOL price is up over 10% on the ETF hopes and it might rise further toward $162. SOL price started a steady increase and cleared the $142 resistance against the US Dollar. The price is now trading above $142 and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $142 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could correct lower and find bids near the $140-$142 zone. Solana Price Starts Fresh Rally On ETF Fillings Solana price formed a base above the $125 level and started a fresh increase. SOL broke many hurdles near the $135 and $140 levels to move into a positive zone. It gained over 10%, cleared the $145 resistance, and outperformed Bitcoin and Ethereum. A high was formed at $150.93 and the price is now consolidating gains. It is trading near the 23.6% Fib retracement level of the upward move from the $135 swing low to the $151 high. Solana is now trading well above the $142 level and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $142 on the hourly chart of the SOL/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $135 swing low to the $151 high. If there is another increase, the price might face resistance near the $150 level. The next major resistance is near the $152 level. A successful close above the $152 resistance could set the pace for another steady increase. The next key resistance is near $162. Any more gains might send the price toward the $175 level. Are Dips Supported in SOL? If SOL fails to rise above the $152 resistance, it could start another decline. Initial support on the downside is near the $145 level. The first major support is near the $142 level and the trend line, below which the price could test $140. If there is a close below the $140 support, the price could decline toward the $128 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 – $145, and $142. Major Resistance Levels – $152 and $162.

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