The #Solana (SOL) Price Is Still Climbing - Might It Climb Any Higher?
In the last three days, SOL, the native cryptocurrency of the Solana network, has seen an upward spike, going from around $180 to more than $210.
With a market valuation of over $88 billion and a total supply of 441 million coins, SOL is now placed 5th in the cryptocurrency market. Despite failing to break its previous low of $162.74, the coin is showing no signs of slowing.
Will Solana Keep Climbing?
Solana has surpassed the last resistance level of $195 and is now trading at $198, reflecting a 6.25% increase over the last 24 hours. Also, on the 4-hour chart, the price is trading higher above the 100-day moving average for the SOL/USD pair. The price has the potential to make a new year-end high if it keeps rising over $210, which is a key resistance level.
The RSI line is moving above the 50 level, as shown in the chart with the assistance of the RSI indicator (Relative Strength Index) in the picture above. The SOL price is still in a bullish zone and might go considerably higher from here, according to the signals.
Looking closer at the 4-hour chart using the MACD indicator reveals that the MACD is bullish. All three lines—the MACD line, the signal line, and the MACD histogram—are moving above the zero line.
In conclusion, the bull versus bear power histogram indication shows that buyers are in control of the market and are prepared to drive prices further higher.
The Solana
Solana has the potential to surpass its last resistance level of $210.27 if it continues to move with its current velocity. Given the current market demand trend, if this is successful, prices might skyrocket.
