{"id":24419,"date":"2024-11-29T05:08:27","date_gmt":"2024-11-29T05:08:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24419"},"modified":"2024-11-29T05:08:27","modified_gmt":"2024-11-29T05:08:27","slug":"solana-sol-momentum-builds-250-could-just-be-the-beginning","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24419","title":{"rendered":"Solana (SOL) Momentum Builds: $250 Could Just Be The Beginning"},"content":{"rendered":"

Solana started a fresh increase from the $220 zone. SOL price is rising and aiming for a sustained upward move above the $250 resistance.<\/em><\/p>\n

SOL price started a fresh increase after it settled above the $225 level against the US Dollar.
\nThe price is now trading above $240 and the 100-hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance at $240 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 Sustained Increase<\/h2>\n

Solana price formed a support base and started a fresh increase above the $225 level like Bitcoin<\/a> and Ethereum<\/a>. There was a decent increase above the $230 and $232 resistance levels.<\/p>\n

There was a move above the 50% Fib retracement level of the downward move from the $256 swing high to the $221 low. Besides, there was a break above a key bearish trend line with resistance at $240 on the hourly chart of the SOL\/USD pair.<\/p>\n

Solana is now trading above $240 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $244 level or the 61.8% Fib retracement level of the downward move from the $256 swing high to the $221 low.<\/p>\n

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

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 $278 level.<\/p>\n

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

If SOL fails to rise above the $248 resistance, it could start a downside correction. Initial support on the downside is near the $240 level or the 100-hourly simple moving average. The first major support is near the $232 level.<\/p>\n

A break below the $232 level might send the price toward the $230 zone. If there is a close below the $230 support, the price could decline toward the $220 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 $240 and $232.<\/p>\n

Major Resistance Levels \u2013 $248 and $250.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh increase from the $220 zone. SOL price is rising and aiming for a sustained upward move above the $250 resistance. SOL price started a fresh increase after it settled above the $225 level against the US Dollar. The price is now trading above $240 and the 100-hourly simple moving average. There […]<\/p>\n","protected":false},"author":0,"featured_media":24420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24419","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\/24419"}],"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=24419"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24420"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}