{"id":23191,"date":"2024-11-25T05:08:35","date_gmt":"2024-11-25T05:08:35","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=23191"},"modified":"2024-11-25T05:08:35","modified_gmt":"2024-11-25T05:08:35","slug":"solana-sol-bulls-stay-in-control-rally-far-from-over","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=23191","title":{"rendered":"Solana (SOL) Bulls Stay in Control: Rally Far From Over?"},"content":{"rendered":"

Solana started a fresh increase above the $240 zone. SOL price is consolidating gains and might aim for an upside break above the $255 resistance.<\/em><\/p>\n

SOL price started a fresh increase after it settled above the $220 level against the US Dollar.
\nThe price is now trading below $255 and the 100-hourly simple moving average.
\nThere is a short-term bearish trend line forming with resistance at $252 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 $255 zone.<\/p>\n

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

Solana price formed a support base and started a fresh increase above the $232 level beating Bitcoin<\/a> and Ethereum<\/a>. There was a strong move above the $245 and $250 resistance levels.<\/p>\n

The price even cleared the $260 level. A high was formed at $2648 and the price is now consolidating gains. There was a move below the $260 and $255 levels. The price dipped below the 50% Fib retracement level of the upward move from the $230 swing low to the $264 high.<\/p>\n

However, the bulls are active near the $242 support and the 61.8% Fib retracement level of the upward move from the $230 swing low to the $264 high. Solana is now trading below $255 and the 100-hourly simple moving average.<\/p>\n

On the upside, the price is facing resistance near the $252 level. There is also a short-term bearish trend line forming with resistance at $252 on the hourly chart of the SOL\/USD pair.<\/p>\n

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

The next major resistance is near the $255 level. The main resistance could be $265. A successful close above the $265 resistance level could set the pace for another steady increase. The next key resistance is $275. Any more gains might send the price toward the $282 level.<\/p>\n

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

If SOL fails to rise above the $255 resistance, it could start a downside correction. Initial support on the downside is near the $246 level. The first major support is near the $242 level.<\/p>\n

A break below the $242 level might send the price toward the $238 zone. If there is a close below the $238 support, the price could decline toward the $230 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 $246 and $242.<\/p>\n

Major Resistance Levels \u2013 $255 and $260.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh increase above the $240 zone. SOL price is consolidating gains and might aim for an upside break above the $255 resistance. SOL price started a fresh increase after it settled above the $220 level against the US Dollar. The price is now trading below $255 and the 100-hourly simple moving average. […]<\/p>\n","protected":false},"author":0,"featured_media":23192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-23191","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\/23191"}],"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=23191"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23191\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/23192"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}