{"id":15603,"date":"2023-01-09T07:05:50","date_gmt":"2023-01-09T11:05:50","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15603"},"modified":"2023-01-09T07:05:50","modified_gmt":"2023-01-09T11:05:50","slug":"solana-price-prediction-sol-rallies-20-and-prints-bullish-breakout","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/09\/solana-price-prediction-sol-rallies-20-and-prints-bullish-breakout\/","title":{"rendered":"Solana Price Prediction: SOL Rallies 20% and Prints Bullish Breakout"},"content":{"rendered":"

Solana rallied over 20% and surpassed $15 against the US Dollar. SOL price is showing positive signs and might rise further above the $16.80 resistance.<\/em><\/p>\n

Sol price started a fresh increase above the $12 and $15 levels against the US Dollar.
\nThe price is now trading above $15 and the 100 simple moving average (4-hours).
\nThere was a break above a major bearish trend line with resistance near $10.20 on the 4-hours chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could rise further if it stays above the $14.50 and $14.10 support levels.<\/p>\n

Solana Price Gains Bullish Momentum<\/h2>\n

This past month, solana price saw a strong decline from the $15 resistance zone. There was a drop below the $12.50 and $10 support levels to move into a bearish zone again.<\/p>\n

The price traded as low as $7.96 and recently started a fresh increase. There was a strong move above the $10 and $12 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $10.20 on the 4-hours chart of the SOL\/USD pair.<\/p>\n

Sol price is now trading above $15 and the 100 simple moving average (4-hours). The price is up over 20% and is showing positive signs, similar to bitcoin<\/a> and ethereum<\/a>.<\/p>\n

<\/a><\/p>\n

Source: SOLUSD on TradingView.com<\/a><\/p>\n

It is trading above the 23.6% Fib retracement level of the upward move from the $12.87 swing low to $16.77 high. On the upside, an immediate resistance is near the $16.80 level. The first major resistance is near the $17 level. The next major resistance is near the $18 zone, above which the price might rise towards the $20 barrier. Any more gains might send the price towards the $25 level.<\/p>\n

Downsides Supported in SOL?<\/h2>\n

If SOL fails to clear the $16.80 resistance, it could start a downside correction. An initial support on the downside is near the $15.80 level.<\/p>\n

The first major support is near the $14.75 level. It is near the 50% Fib retracement level of the upward move from the $12.87 swing low to $16.77 high. The next major support is near the $14.10 level. If there is a downside break below the $14.10 support, the bears might even push the price below $13.50.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for SOL\/USD is gaining pace in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is currently in the overbought zone.<\/p>\n

Major Support Levels \u2013 $15.80, $14.75 and $14.10.<\/p>\n

Major Resistance Levels \u2013 $16.80, $18 and $20.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana rallied over 20% and surpassed $15 against the US Dollar. SOL price is showing positive signs and might rise further above the $16.80 resistance.<\/em><\/p>\n

Sol price started a fresh increase above the $12 and $15 levels against the US Dollar.
\nThe price is now trading above $15 and the 100 simple moving average (4-hours).
\nThere was a break above a major bearish trend line with resistance near $10.20 on the 4-hours chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could rise further if it stays above the $14.50 and $14.10 support levels.<\/p>\n

Solana Price Gains Bullish Momentum<\/h2>\n

This past month, solana price saw a strong decline from the $15 resistance zone. There was a drop below the $12.50 and $10 support levels to move into a bearish zone again.<\/p>\n

The price traded as low as $7.96 and recently started a fresh increase. There was a strong move above the $10 and $12 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $10.20 on the 4-hours chart of the SOL\/USD pair.<\/p>\n

Sol price is now trading above $15 and the 100 simple moving average (4-hours). The price is up over 20% and is showing positive signs, similar to bitcoin<\/a> and ethereum<\/a>.<\/p>\n

<\/a><\/p>\n

Source: SOLUSD on TradingView.com<\/a><\/p>\n

It is trading above the 23.6% Fib retracement level of the upward move from the $12.87 swing low to $16.77 high. On the upside, an immediate resistance is near the $16.80 level. The first major resistance is near the $17 level. The next major resistance is near the $18 zone, above which the price might rise towards the $20 barrier. Any more gains might send the price towards the $25 level.<\/p>\n

Downsides Supported in SOL?<\/h2>\n

If SOL fails to clear the $16.80 resistance, it could start a downside correction. An initial support on the downside is near the $15.80 level.<\/p>\n

The first major support is near the $14.75 level. It is near the 50% Fib retracement level of the upward move from the $12.87 swing low to $16.77 high. The next major support is near the $14.10 level. If there is a downside break below the $14.10 support, the bears might even push the price below $13.50.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for SOL\/USD is gaining pace in the bullish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is currently in the overbought zone.<\/p>\n

Major Support Levels \u2013 $15.80, $14.75 and $14.10.<\/p>\n

Major Resistance Levels \u2013 $16.80, $18 and $20.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-15603","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=15603"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15603\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15603"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}