Solana

Bitcoin

<div class="coinjournal"> 
 
 <ul> 
 <li dir="ltr">Solana (SOL) price traded to above $20.00, hitting $20.50 after bouncing off $18.40 earlier this month.</li> 
 <li dir="ltr">Can bulls take advantage of positive sentiment for Solana to break higher?</li> 
 </ul> 
 Solana price has reached a key technical <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a>, with the 24-hour upside to $20.50 retesting a 10-day high that’s an area of a previous support and resistance. With nearly 4% increase in the past 24 hours, Solana is outperforming all the top ten cryptocurrencies by market cap except XRP. 
 Bitcoin is back below $27k after latest SEC delays of decisions on multiple spot ETF applications, including that of BlackRock. Ethereum, buoyed by news of listing of the Valkyrie ETH futures ETF to near $1,700, has bounced lower too even as whales position themselves for a likely upswing. 
 What’s the outlook for Solana, an altcoin with a market cap of $8.3 billion?&nbsp; 
 <h2 dir="ltr" id="sol-price-what-next-for-bulls">SOL price: what next for bulls?</h2> 
 SOL price’s uptick today comes as SOL <a rel="noopener noreferrer nofollow" title="bulls" href="https://thebittimes.com/tag/bulls.html">bulls</a> plot to stay above an ascending trendline support that’s anchored at the December 2022 buffer zone around $9.60. 
 As can be seen on the daily chart below, Solana has bounced higher (not perfect) off the positive trendline. The price action follows this week’s <a rel="noopener noreferrer nofollow" title="break" href="https://thebittimes.com/tag/break.html">break</a>out from the downtrend line marked by the decline from July 2023 peak of $32.40. 
 <div class="fr-img-space-wrap"> <img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/30/29da261b9c0039e9f3f0a18de2276f69.webp" style="width: 100%" class="fr-fic fr-dib" width="600" height="260">Solana price outlook on the daily chart. Source:&nbsp;TradingView 
 Earlier today crypto trader Bluntz highlighted the potential for an inverse Head &amp; Shoulder pattern. The pattern’s neckline is $20.30 and the 50-day exponential moving average provides the immediate supply zone $20.22.&nbsp; 
 Holding at or above these <a rel="noopener noreferrer nofollow" title="level" href="https://thebittimes.com/tag/level.html">level</a>s is crucial to the <a rel="noopener noreferrer nofollow" title="bulls" href="https://thebittimes.com/tag/bulls.html">bulls</a> short term plans, an outlook supported by the daily Relative Strength Index (RSI) in an upsloping view above the neutral &nbsp;mark. 
 </div> 
 The flipside of the above scenario is Solana price breaking lower beyond the $18.80 demand zone. Increased sell-side liquidity in this area could push SOL to around $17.60. From here, bulls may rely on the likely support near $14.50. 
</div> 
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-sol-breaks-above-key-level-but-can-bulls-take-advantage-tbt64589.html">https://thebittimes.com/solana-sol-breaks-above-key-level-but-can-bulls-take-advantage-tbt64589.html</a>

Solana (SOL) breaks above key level but can bulls take advantage?

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