Solana

Strong

Resistance

Foundation

<ul> 
 <li><strong>SOL’s price rose by 2.2% in a day as per data from CMC.</strong></li> 
 <li><strong>If the price of the token can break through $26, it may be able to reach $28.</strong></li> 
</ul> 
<p>There are a number of causes behind <a href="https://thenewscrypto.com/blockchain-news-solana-founder-criticizes-ethereum-community-over-false-claims/" target="_blank" rel="noopener noreferrer nofollow">Solana’s</a> recent brief price surge. On July 7, Solana finally had its much-anticipated Proof-of-History fork, which included significant enhancements to the underlying network. Developers and investors now have more faith in Solana as a result of the successful fork.</p> 
<p>Solana’s DeFi activity is also picking up speed, with the total value locked lately surpassing $1.2 billion. There will be a greater need for the SOL token as more Solana DApps become available.</p> 
<p>The Solana Foundation has been working to make an impact by holding a public event, PlayGG, in San Diego last week. General Manager of Solana Games Johnny Lee anticipated the free two-day event would attract investors, the media, and local San Diego families to try out blockchain gaming in a manner that didn’t focus on crypto or <a href="https://thenewscrypto.com/google-play-changes-policy-allowing-nfts-in-apps-and-games-bullish/" target="_blank" rel="noopener noreferrer nofollow">NFTs</a>.</p> 
<h3 class="wp-block-heading" id="h-strong-resistance-at-26-mark">Strong Resistance at $26 Mark</h3> 
<p>SOL’s price rose by 2.2% in a day, although the token has hardly moved upward during the last week. Despite the obstacles, the morning star reversal sign and a bullish pennant formation are two crucial bullish indications to keep an eye out for.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
  <img decoding="async" width="661" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/07/SOL_1D_graph_coinmarketcap-1.png" alt="" class="wp-image-79795" srcset="https://thenewscrypto.com/wp-content/uploads/2023/07/SOL_1D_graph_coinmarketcap-1.png 661w, https://thenewscrypto.com/wp-content/uploads/2023/07/SOL_1D_graph_coinmarketcap-1-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/07/SOL_1D_graph_coinmarketcap-1-150x81.png 150w" sizes="(max-width: 661px) 100vw, 661px"> 
 </figure> 
</div> 
<p>These trends indicate that a successful test of the nearby resistance level at the $26 mark might pave the way for SOL to attempt a rally to the highs it hit two weeks ago. SOL is worth $25.07 at the time of this writing and has been trying to break over the $26 resistance level.</p> 
<p>If the price of the token can break through $26, it may be able to reach $28. At that price, it may have hit a ceiling. If the currency can break over this resistance, it may continue its upward trend all the way to $30. However, there is a potential for decline. If SOL can’t maintain its price above $26, it might drop below $21. If it drops below that level, it may hit $18 as well.</p>

Solana (SOL) Price Consolidates After Recent Brief Price Surge

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