Solana (SOL) Bulls Stay in Control: Rally Far From Over? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	111,333,684,933	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-4.06	-1.68%	238.16	238.14	238.15

High Price	Low Price	Open Price	Prev. Close	52 Week Range
245.49	232.89	241.16	242.22	53.95 - 264.63

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:30:10	0.058650	238.15	USD

Price x Volume	Volume	Base Symbol	Related Pairs
133,830,607.61	561,710.81	SOL	SOLEUR	SOLGBP	SOLBTC

Solana (SOL) Bulls Stay in Control: Rally Far From Over?

25/11/2024 5:08am

NEWSBTC

Solana started a fresh increase above the $240 zone. SOL price is consolidating gains and might aim for an upside break above the $255 resistance. SOL price started a fresh increase after it settled above the $220 level against the US Dollar. The price is now trading below $255 and the 100-hourly simple moving average. There is a short-term bearish trend line forming with resistance at $252 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $255 zone. Solana Price Eyes More Upsides Solana price formed a support base and started a fresh increase above the $232 level beating Bitcoin and Ethereum. There was a strong move above the $245 and $250 resistance levels. The price even cleared the $260 level. A high was formed at $2648 and the price is now consolidating gains. There was a move below the $260 and $255 levels. The price dipped below the 50% Fib retracement level of the upward move from the $230 swing low to the $264 high. However, the bulls are active near the $242 support and the 61.8% Fib retracement level of the upward move from the $230 swing low to the $264 high. Solana is now trading below $255 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $252 level. There is also a short-term bearish trend line forming with resistance at $252 on the hourly chart of the SOL/USD pair. The next major resistance is near the $255 level. The main resistance could be $265. A successful close above the $265 resistance level could set the pace for another steady increase. The next key resistance is $275. Any more gains might send the price toward the $282 level. Are Dips Limited in SOL? If SOL fails to rise above the $255 resistance, it could start a downside correction. Initial support on the downside is near the $246 level. The first major support is near the $242 level. A break below the $242 level might send the price toward the $238 zone. If there is a close below the $238 support, the price could decline toward the $230 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 – $246 and $242. Major Resistance Levels – $255 and $260.

1 Year Solana Chart

1 Year Solana Chart

1 Month Solana Chart

1 Month Solana Chart

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