Solana

altFINS

Momentum

Gains

<p><strong>Solana (SOL) has been one of the <a href="https://captainaltcoin.com/solana-sol-and-injective-inj-among-few-altcoins-showing-strength-in-the-underwhelming-crypto-market/" target="_blank" rel="noopener noreferrer nofollow">top performing major cryptocurrencies</a> this week, rallying 27% which makes it a top gainer among top20 coins.</strong></p>
<p>SOL hit a high of $27 on Thursday, its highest level since July this year. The only other time SOL was above $27 in 2023 was in mid-July after a positive SEC ruling against Ripple. This latest surge marks a return to yearly highs for the token.</p>
<p>The rally comes after SOL broke out of a falling wedge pattern on the daily chart. This bullish breakout triggered a move towards the next target resistance zone between $25-30.</p>
<p>According to technical analysis, SOL’s trend has now inflected to an uptrend on both the short-term and medium-term timeframes. Momentum indicators like the MACD and RSI are also signaling bullish conditions, with the MACD line moving above the signal line and RSI surpassing 55.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-1024x573.png" alt="" class="wp-image-360511" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-539-788x441.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<p>If SOL can break above the $27-30 zone, it could open the door for further upside towards the next resistance around $38. However, the token is now getting overbought after the latest surge, so a pullback or consolidation around $25-27 would also be likely.</p>
<p>SOL found support around the $22 level and 200-day moving average last week. This area around $22 could now act as a new floor and potential buy zone if SOL corrects lower.</p>
<p>Overall, SOL’s return to yearly highs and bullish technical picture indicates the medium-term trend is now up. If Bitcoin and the overall crypto market see continued strength, SOL looks poised to make a run back towards its all-time high around $60 in the coming weeks.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/why-is-solana-surging-to-near-yearly-highs-sol-gains-27-with-bullish-indicators/">Why is Solana Surging to Near Yearly Highs? SOL Gains 27% With Bullish Indicators</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why is Solana Surging to Near Yearly Highs? SOL Gains 27% With Bullish Indicators

Table of Contents

CaptainAltcoin

Other articles published on Oct 20, 2023

Mengapa Ripple Labs Merasa Menang Lagi Melawan SEC?

Simplifying Crypto Loans & Taxes with CoinRabbit and Kryptos

Spot Bitcoin ETF Google Searches Spike As Industry Confidence Prevails

Ripple vs SEC: Is a Settlement Coming? XRP Awaits Its Fate

Internet Computer Price Prediction: ICP at Crucial Make-or-Break

Former Consensys Employees Sue CEO Joseph Lubin for Violating Equity Promises

Join our free newsletter for daily crypto updates!