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

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	11,006,271,317	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

11,006,271,317

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000276	-0.22%	0.125	0.124999	0.125

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000276

-0.22%

0.125

0.124999

0.125

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.125634	0.124888	0.125276	0.125276	0.071373 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.125634

0.124888

0.125276

0.071373 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	16:04:33	247.61	0.125	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

16:04:33

247.61

0.125

USD

Price x Volume	Volume	Base Symbol	Related Pairs
24,957.76	199,351.62	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

24,957.76

199,351.62

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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