{"id":34154,"date":"2023-12-14T06:53:50","date_gmt":"2023-12-14T10:53:50","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34154"},"modified":"2023-12-14T06:53:50","modified_gmt":"2023-12-14T10:53:50","slug":"sol-price-resumes-rally-heres-why-solana-could-pump-20","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/14\/sol-price-resumes-rally-heres-why-solana-could-pump-20\/","title":{"rendered":"SOL Price Resumes Rally, Here\u2019s Why Solana Could Pump 20%"},"content":{"rendered":"

Solana stayed above the $65 support and started a fresh increase. SOL price is likely setting up for more gains above the $75 and $80 resistance levels.<\/em><\/p>\n

SOL price started a fresh rally above the $68 resistance before the bears appeared against the US Dollar.
\nThe price is now trading above $68 and the 100 simple moving average (4 hours).
\nThere is a major bullish trend line forming with support near $65.50 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair is up nearly 10% and might rally further above the $75 resistance zone.<\/p>\n

Solana Price Signals Rally<\/h2>\n

In the past few days, Solana saw a downside correction from the $77.75 zone, like Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $75 and $70 support levels.<\/p>\n

However, the bulls were active above the $65 support. A low was formed near $63.78 and the price is now attempting a fresh increase. There was a move above the $68 and $70 resistance levels. The price is up nearly 10% and there was a move above the 50% Fib retracement level of the downward move from the $77.72 swing high to the $63.78 low.<\/p>\n

SOL is now trading above $68 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $65.50 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $72.40 level. It is near the 61.8% Fib retracement level of the downward move from the $77.72 swing high to the $63.78 low. The first major resistance is near the $75.00 level.<\/p>\n

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

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

The main resistance is now near $77.75. A successful close above the $77.75 resistance could set the pace for another major rally. The next key resistance is near $80.00. Any more gains might send the price toward the $85.00 level.<\/p>\n

Another Decline in SOL?<\/h2>\n

If SOL fails to rally above the $75.00 resistance, it could start a fresh decline. Initial support on the downside is near the $68.50 level.<\/p>\n

The first major support is near the $65.50 level or the trend line, below which the price could test $63.50. If there is a close below the $63.50 support, the price could decline toward the $56.00 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 $68.50, and $65.50.<\/p>\n

Major Resistance Levels \u2013 $72.40, $75.00, and $77.75.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana stayed above the $65 support and started a fresh increase. SOL price is likely setting up for more gains above the $75 and $80 resistance levels.<\/em><\/p>\n

SOL price started a fresh rally above the $68 resistance before the bears appeared against the US Dollar.
\nThe price is now trading above $68 and the 100 simple moving average (4 hours).
\nThere is a major bullish trend line forming with support near $65.50 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair is up nearly 10% and might rally further above the $75 resistance zone.<\/p>\n

Solana Price Signals Rally<\/h2>\n

In the past few days, Solana saw a downside correction from the $77.75 zone, like Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $75 and $70 support levels.<\/p>\n

However, the bulls were active above the $65 support. A low was formed near $63.78 and the price is now attempting a fresh increase. There was a move above the $68 and $70 resistance levels. The price is up nearly 10% and there was a move above the 50% Fib retracement level of the downward move from the $77.72 swing high to the $63.78 low.<\/p>\n

SOL is now trading above $68 and the 100 simple moving average (4 hours). There is also a major bullish trend line forming with support near $65.50 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $72.40 level. It is near the 61.8% Fib retracement level of the downward move from the $77.72 swing high to the $63.78 low. The first major resistance is near the $75.00 level.<\/p>\n

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

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

The main resistance is now near $77.75. A successful close above the $77.75 resistance could set the pace for another major rally. The next key resistance is near $80.00. Any more gains might send the price toward the $85.00 level.<\/p>\n

Another Decline in SOL?<\/h2>\n

If SOL fails to rally above the $75.00 resistance, it could start a fresh decline. Initial support on the downside is near the $68.50 level.<\/p>\n

The first major support is near the $65.50 level or the trend line, below which the price could test $63.50. If there is a close below the $63.50 support, the price could decline toward the $56.00 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 $68.50, and $65.50.<\/p>\n

Major Resistance Levels \u2013 $72.40, $75.00, and $77.75.<\/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-34154","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\/34154","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=34154"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34154\/revisions"}],"predecessor-version":[{"id":34159,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34154\/revisions\/34159"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34154"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}