{"id":30382,"date":"2023-10-02T05:55:08","date_gmt":"2023-10-02T09:55:08","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=30382"},"modified":"2023-10-02T05:55:08","modified_gmt":"2023-10-02T09:55:08","slug":"sol-price-prediction-solana-surges-15-is-this-just-start-of-a-larger-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/02\/sol-price-prediction-solana-surges-15-is-this-just-start-of-a-larger-increase\/","title":{"rendered":"SOL Price Prediction: Solana Surges 15%, Is This Just Start Of A Larger Increase?"},"content":{"rendered":"

Solana is surging above the $23.50 resistance against the US Dollar. SOL price could accelerate further higher if it clears the $25.00 resistance zone.<\/em><\/p>\n

SOL price is up over 15% and it is showing signs of bullish continuation against the US Dollar.
\nThe price is now trading below $23.00 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $23.10 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could rise further higher if it clears the $25 resistance zone.<\/p>\n

Solana Price Starts Fresh Rally<\/h2>\n

In the past few days, Solana\u2019s price formed a strong support base above the $18.80 level. SOL started a strong increase after it settled above the $22 resistance zone.<\/p>\n

There was a steady increase above the $23.20 resistance, outpacing Bitcoin<\/a> and Ethereum<\/a>. It is up over 15% and there was a test of the $24.50 resistance. A high is formed near $24.47 and the price is now consolidating gains. SOL is well above the 23.6% Fib retracement level of the upward move from the $18.75 swing low to the $24.47 high.<\/p>\n

It is also trading below $23.00 and the 100 simple moving average (4 hours). Besides, there is a key bullish trend line forming with support near $23.10 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

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

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

On the upside, immediate resistance is near the $24.50 level. The first major resistance is near the $25.00 level. A clear move above the $25 resistance might send the price toward the $27.20 resistance. The next key resistance is near $28.80. Any more gains might send the price toward the $30 level.<\/p>\n

Downside Correction in SOL?<\/h2>\n

If SOL fails to settle above $24.50 and $25.00, it could start a downside correction. Initial support on the downside is near the $23.20 level and the trend line.<\/p>\n

The first major support is near the $21.50 level or the 50% Fib retracement level of the upward move from the $18.75 swing low to the $24.47 high. If there is a close below the $21.50 support, the price could decline toward the $20.50 support. In the stated case, there is a risk of more downsides toward the $20.00 support in the near term.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $23.20, and $21.50.<\/p>\n

Major Resistance Levels \u2013 $24.50, $25.00, and $27.20.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana is surging above the $23.50 resistance against the US Dollar. SOL price could accelerate further higher if it clears the $25.00 resistance zone.<\/em><\/p>\n

SOL price is up over 15% and it is showing signs of bullish continuation against the US Dollar.
\nThe price is now trading below $23.00 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $23.10 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could rise further higher if it clears the $25 resistance zone.<\/p>\n

Solana Price Starts Fresh Rally<\/h2>\n

In the past few days, Solana\u2019s price formed a strong support base above the $18.80 level. SOL started a strong increase after it settled above the $22 resistance zone.<\/p>\n

There was a steady increase above the $23.20 resistance, outpacing Bitcoin<\/a> and Ethereum<\/a>. It is up over 15% and there was a test of the $24.50 resistance. A high is formed near $24.47 and the price is now consolidating gains. SOL is well above the 23.6% Fib retracement level of the upward move from the $18.75 swing low to the $24.47 high.<\/p>\n

It is also trading below $23.00 and the 100 simple moving average (4 hours). Besides, there is a key bullish trend line forming with support near $23.10 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

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

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

On the upside, immediate resistance is near the $24.50 level. The first major resistance is near the $25.00 level. A clear move above the $25 resistance might send the price toward the $27.20 resistance. The next key resistance is near $28.80. Any more gains might send the price toward the $30 level.<\/p>\n

Downside Correction in SOL?<\/h2>\n

If SOL fails to settle above $24.50 and $25.00, it could start a downside correction. Initial support on the downside is near the $23.20 level and the trend line.<\/p>\n

The first major support is near the $21.50 level or the 50% Fib retracement level of the upward move from the $18.75 swing low to the $24.47 high. If there is a close below the $21.50 support, the price could decline toward the $20.50 support. In the stated case, there is a risk of more downsides toward the $20.00 support in the near term.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $23.20, and $21.50.<\/p>\n

Major Resistance Levels \u2013 $24.50, $25.00, and $27.20.<\/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-30382","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\/30382","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=30382"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30382\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30382"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}