{"id":25567,"date":"2024-12-04T05:08:20","date_gmt":"2024-12-04T05:08:20","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=25567"},"modified":"2024-12-04T05:08:20","modified_gmt":"2024-12-04T05:08:20","slug":"solana-sol-back-on-track-is-the-uptrend-here-to-stay","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=25567","title":{"rendered":"Solana (SOL) Back on Track: Is The Uptrend Here to Stay?"},"content":{"rendered":"

Solana started a fresh increase from the $215 zone. SOL price is rising and might aim for a move above the $240 and $250 resistance levels.<\/em><\/p>\n

SOL price started a fresh increase after it settled above the $222 level against the US Dollar.
\nThe price is now trading above $230 and the 100-hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance at $232 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 $240 zone.<\/p>\n

Solana Price Eyes Fresh Surge<\/h2>\n

Solana price formed a support base and started a fresh increase above the $220 level like Bitcoin<\/a> and Ethereum<\/a>. There was a decent increase above the $225 and $230 resistance levels.<\/p>\n

There was a move above the 50% Fib retracement level of the downward move from the $246 swing high to the $215 low. Besides, there was a break above a key bearish trend line with resistance at $232 on the hourly chart of the SOL\/USD pair.<\/p>\n

Solana is now trading above $235 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $240 level or the 76.4% Fib retracement level of the downward move from the $246 swing high to the $215 low.<\/p>\n

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

The next major resistance is near the $246 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 $280 level.<\/p>\n

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

If SOL fails to rise above the $240 resistance, it could start another decline. Initial support on the downside is near the $230 level or the 100-hourly simple moving average. The first major support is near the $220 level.<\/p>\n

A break below the $220 level might send the price toward the $215 zone. If there is a close below the $215 support, the price could decline toward the $200 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 $230 and $220.<\/p>\n

Major Resistance Levels \u2013 $240 and $250.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh increase from the $215 zone. SOL price is rising and might aim for a move above the $240 and $250 resistance levels. SOL price started a fresh increase after it settled above the $222 level against the US Dollar. The price is now trading above $230 and the 100-hourly simple moving […]<\/p>\n","protected":false},"author":0,"featured_media":25568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-25567","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\/25567"}],"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=25567"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25567\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/25568"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}