{"id":34292,"date":"2023-12-19T05:53:02","date_gmt":"2023-12-19T09:53:02","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=34292"},"modified":"2023-12-19T05:53:02","modified_gmt":"2023-12-19T09:53:02","slug":"sol-price-soars-8-solana-indicators-suggest-breakout-above-80","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/19\/sol-price-soars-8-solana-indicators-suggest-breakout-above-80\/","title":{"rendered":"SOL Price Soars 8%, Solana Indicators Suggest Breakout Above $80"},"content":{"rendered":"

Solana stayed above the $67.50 support and started a fresh increase. SOL price is gaining pace and might soon attempt a move above $80.<\/em><\/p>\n

SOL price started a fresh rally above the $72 resistance against the US Dollar.
\nThe price is now trading above $74 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $70.00 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair is up nearly 8% and might rally further above the $80 resistance zone.<\/p>\n

Solana Price Resumes Increase<\/h2>\n

In the past few days, Solana saw a downside correction from the $80.00 zone, like Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $77.50 and $75.00 support levels.<\/p>\n

However, the bulls were active above the $67.50 support. A low was formed near $67.25, and the price is now attempting a fresh increase. There was a move above the $70 and $72 resistance levels. The price is up nearly 8% and there was a move above the 50% Fib retracement level of the downward move from the $79.45 swing high to the $67.25 low.<\/p>\n

SOL is now trading above $74 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $70.00 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $76.50 level. It is near the 76.4% key bullish trend line forming with support near $70.00 on the 4-hour chart of the SOL\/USD pair. The first major resistance is near the $80.00 level.<\/p>\n

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

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

The main resistance is now near $82.0. A successful close above the $82.0 resistance could set the pace for another major rally. The next key resistance is near $88.00. Any more gains might send the price toward the $92.00 level.<\/p>\n

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

If SOL fails to rally above the $80.00 resistance, it could start a fresh decline. Initial support on the downside is near the $72.00 level.<\/p>\n

The first major support is near the $70.00 level or the trend line, below which the price could test $67.50. If there is a close below the $67.50 support, the price could decline toward the $65.00 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 $72.00, and $70.00.<\/p>\n

Major Resistance Levels \u2013 $76.50, $80.00, and $88.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana stayed above the $67.50 support and started a fresh increase. SOL price is gaining pace and might soon attempt a move above $80.<\/em><\/p>\n

SOL price started a fresh rally above the $72 resistance against the US Dollar.
\nThe price is now trading above $74 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $70.00 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair is up nearly 8% and might rally further above the $80 resistance zone.<\/p>\n

Solana Price Resumes Increase<\/h2>\n

In the past few days, Solana saw a downside correction from the $80.00 zone, like Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $77.50 and $75.00 support levels.<\/p>\n

However, the bulls were active above the $67.50 support. A low was formed near $67.25, and the price is now attempting a fresh increase. There was a move above the $70 and $72 resistance levels. The price is up nearly 8% and there was a move above the 50% Fib retracement level of the downward move from the $79.45 swing high to the $67.25 low.<\/p>\n

SOL is now trading above $74 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $70.00 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $76.50 level. It is near the 76.4% key bullish trend line forming with support near $70.00 on the 4-hour chart of the SOL\/USD pair. The first major resistance is near the $80.00 level.<\/p>\n

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

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

The main resistance is now near $82.0. A successful close above the $82.0 resistance could set the pace for another major rally. The next key resistance is near $88.00. Any more gains might send the price toward the $92.00 level.<\/p>\n

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

If SOL fails to rally above the $80.00 resistance, it could start a fresh decline. Initial support on the downside is near the $72.00 level.<\/p>\n

The first major support is near the $70.00 level or the trend line, below which the price could test $67.50. If there is a close below the $67.50 support, the price could decline toward the $65.00 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 $72.00, and $70.00.<\/p>\n

Major Resistance Levels \u2013 $76.50, $80.00, and $88.00.<\/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-34292","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\/34292","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=34292"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34292\/revisions"}],"predecessor-version":[{"id":34300,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34292\/revisions\/34300"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34292"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}