{"id":32604,"date":"2023-11-16T05:53:11","date_gmt":"2023-11-16T09:53:11","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=32604"},"modified":"2023-11-16T05:53:11","modified_gmt":"2023-11-16T09:53:11","slug":"sol-price-rallies-over-50-in-few-days-but-uptrend-is-far-from-over","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/16\/sol-price-rallies-over-50-in-few-days-but-uptrend-is-far-from-over\/","title":{"rendered":"SOL Price Rallies Over 50% In Few Days But Uptrend Is Far From Over"},"content":{"rendered":"

Solana rallied above the $60 resistance against the US Dollar. SOL price is up over 50% in a few days and might continue to rise toward the $75 level.<\/em><\/p>\n

SOL price started a major rally above the $55 resistance against the US Dollar.
\nThe price is now trading above $60 and the 100 simple moving average (4 hours).
\nThere is a major bullish trend line forming with support near $55.00 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could continue to move up if it clears the $68.00 resistance zone.<\/p>\n

Solana Price Regains Strength<\/h2>\n

In the past few days, Solana saw a major rally above the $50 level. SOL gained bullish momentum after it settled above $50, outperforming Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price is up over 50% in a few days and the bulls are not done yet. The recent move took the price above the $65 level. A high is formed near $67.21 and the price is now consolidating gains. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $51.23 swing low to the $67.21 high.<\/p>\n

SOL is now trading above $60 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $55.00 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 $67.20 level. The first major resistance is near the $68.00 level. A successful close above the $65.00 resistance could set the pace for a larger increase. The next key resistance is near $70.00. Any more gains might send the price toward the $75.00 level.<\/p>\n

Are Dips Supported in SOL?<\/h2>\n

If SOL fails to recover above the $68.00 resistance, it could start a downside correction. Initial support on the downside is near the $62.50 level.<\/p>\n

The first major support is near the $57.75 level or the 61.8% Fib retracement level of the upward move from the $51.23 swing low to the $67.21 high, below which the price could test the trend line. If there is a close below the $55.00 support, the price could decline toward the $50.00 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for SOL\/USD is losing 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 $62.50, and $57.75.<\/p>\n

Major Resistance Levels \u2013 $68.00, $70.00, and $75.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana rallied above the $60 resistance against the US Dollar. SOL price is up over 50% in a few days and might continue to rise toward the $75 level.<\/em><\/p>\n

SOL price started a major rally above the $55 resistance against the US Dollar.
\nThe price is now trading above $60 and the 100 simple moving average (4 hours).
\nThere is a major bullish trend line forming with support near $55.00 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could continue to move up if it clears the $68.00 resistance zone.<\/p>\n

Solana Price Regains Strength<\/h2>\n

In the past few days, Solana saw a major rally above the $50 level. SOL gained bullish momentum after it settled above $50, outperforming Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price is up over 50% in a few days and the bulls are not done yet. The recent move took the price above the $65 level. A high is formed near $67.21 and the price is now consolidating gains. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $51.23 swing low to the $67.21 high.<\/p>\n

SOL is now trading above $60 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $55.00 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 $67.20 level. The first major resistance is near the $68.00 level. A successful close above the $65.00 resistance could set the pace for a larger increase. The next key resistance is near $70.00. Any more gains might send the price toward the $75.00 level.<\/p>\n

Are Dips Supported in SOL?<\/h2>\n

If SOL fails to recover above the $68.00 resistance, it could start a downside correction. Initial support on the downside is near the $62.50 level.<\/p>\n

The first major support is near the $57.75 level or the 61.8% Fib retracement level of the upward move from the $51.23 swing low to the $67.21 high, below which the price could test the trend line. If there is a close below the $55.00 support, the price could decline toward the $50.00 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for SOL\/USD is losing 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 $62.50, and $57.75.<\/p>\n

Major Resistance Levels \u2013 $68.00, $70.00, and $75.00.<\/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-32604","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\/32604","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=32604"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32604\/revisions"}],"predecessor-version":[{"id":32615,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32604\/revisions\/32615"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32604"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}