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Home Market & Analysis

Solana (SOL) Back on Track: Is The Uptrend Here to Stay?

n70products by n70products
December 4, 2024
in Market & Analysis
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Solana (SOL) Back on Track: Is The Uptrend Here to Stay?
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Solana began a recent improve from the $215 zone. SOL value is rising and may goal for a transfer above the $240 and $250 resistance ranges.

  • SOL value began a recent improve after it settled above the $222 stage in opposition to the US Greenback.
  • The worth is now buying and selling above $230 and the 100-hourly easy shifting common.
  • There was a break above a key bearish development line with resistance at $232 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
  • The pair may begin a recent improve if the bulls clear the $240 zone.

Solana Worth Eyes Contemporary Surge

Solana value fashioned a help base and began a recent improve above the $220 stage like Bitcoin and Ethereum. There was a good improve above the $225 and $230 resistance ranges.

There was a transfer above the 50% Fib retracement stage of the downward transfer from the $246 swing excessive to the $215 low. In addition to, there was a break above a key bearish development line with resistance at $232 on the hourly chart of the SOL/USD pair.

Solana is now buying and selling above $235 and the 100-hourly easy shifting common. On the upside, the worth is dealing with resistance close to the $240 stage or the 76.4% Fib retracement stage of the downward transfer from the $246 swing excessive to the $215 low.

Solana Price

The following main resistance is close to the $246 stage. The principle resistance may very well be $250. A profitable shut above the $250 resistance stage may set the tempo for one more regular improve. The following key resistance is $265. Any extra positive aspects may ship the worth towards the $280 stage.

One other Decline in SOL?

If SOL fails to rise above the $240 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $230 stage or the 100-hourly easy shifting common. The primary main help is close to the $220 stage.

A break under the $220 stage may ship the worth towards the $215 zone. If there’s a shut under the $215 help, the worth may decline towards the $200 help within the close to time period.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.

Hourly Hours RSI (Relative Power Index) – The RSI for SOL/USD is above the 50 stage.

Main Assist Ranges – $230 and $220.

Main Resistance Ranges – $240 and $250.



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Tags: SOLSolanastayTrackUptrend
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