{"id":21577,"date":"2024-11-19T05:08:34","date_gmt":"2024-11-19T05:08:34","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=21577"},"modified":"2024-11-19T05:08:34","modified_gmt":"2024-11-19T05:08:34","slug":"solana-sol-could-soon-rally-past-250-are-bulls-in-control","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=21577","title":{"rendered":"Solana (SOL) Could Soon Rally Past $250\u2014Are Bulls in Control?"},"content":{"rendered":"

Solana started a fresh increase above the $220 zone. SOL price is consolidating gains and might aim for an upside break above the $250 resistance.<\/em><\/p>\n

SOL price started a fresh increase after it settled above the $200 level against the US Dollar.
\nThe price is now trading above $225 and the 100-hourly simple moving average.
\nThere is a connecting bullish trend line forming with support at $237 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if the bulls clear the $250 zone.<\/p>\n

Solana Price Eyes More Upsides<\/h2>\n

Solana price formed a support base and started a fresh increase above the $220 level beating Bitcoin<\/a> and Ethereum<\/a>. There was a strong move above the $225 and $240 resistance levels.<\/p>\n

The price even cleared the $245 level. A high was formed at $248 and the price is now consolidating gains. There was a move below the $245 and $242 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $212 swing low to the $248 high.<\/p>\n

Solana is now trading above $230 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $237 on the hourly chart of the SOL\/USD pair.<\/p>\n

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

On the upside, the price is facing resistance near the $245 level. The next major resistance is near the $248 level. The main resistance could be $250. A successful close above the $250 resistance level could set the pace for another steady increase. The next key resistance is $265. Any more gains might send the price toward the $282 level.<\/p>\n

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

If SOL fails to rise above the $245 resistance, it could continue to move down. Initial support on the downside is near the $237 level and the trend line. The first major support is near the $230 level or the 50% Fib retracement level of the upward move from the $212 swing low to the $248 high.<\/p>\n

A break below the $230 level might send the price toward the $220 zone. If there is a close below the $220 support, the price could decline toward the $212 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

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

Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $237 and $230.<\/p>\n

Major Resistance Levels \u2013 $245 and $250.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh increase above the $220 zone. SOL price is consolidating gains and might aim for an upside break above the $250 resistance. SOL price started a fresh increase after it settled above the $200 level against the US Dollar. The price is now trading above $225 and the 100-hourly simple moving average. […]<\/p>\n","protected":false},"author":0,"featured_media":21578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21577"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21577"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21577\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21578"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}