Solana

Bitcoin

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/sol-price-analysis-solana-rallies-past-30-will-it-cross-40/">SOL Price Analysis: Solana Rallies Past $30, Will It Cross $40?&nbsp;</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
As the oldest crypto, Bitcoin reclaims the $35 mark, all the major altcoins experience a bullish boost, resulting in a sharp price jump in the market. Taking support of the market recovery, the SOL price jumps and gives a rounding bottom breakout.&nbsp;
Surpassing the neckline at $28, Solana prices reclaim the psychological mark of $30 and continue to rise higher. Moreover, the increasing trend momentum teases a positive <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">Solana price prediction</a> in the near future.
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="478" src="https://image.coinpedia.org/wp-content/uploads/2023/10/25131152/SOLUSD_2023-10-25_12-04-03-1024x478.png" alt="" class="wp-image-239303" srcset="https://image.coinpedia.org/wp-content/uploads/2023/10/25131152/SOLUSD_2023-10-25_12-04-03-1024x478.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/10/25131152/SOLUSD_2023-10-25_12-04-03-300x140.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/10/25131152/SOLUSD_2023-10-25_12-04-03-768x359.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/10/25131152/SOLUSD_2023-10-25_12-04-03-1536x718.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/10/25131152/SOLUSD_2023-10-25_12-04-03-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/10/25131152/SOLUSD_2023-10-25_12-04-03.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
With the increased attention of SOL buyers, the market price pumps by almost 80% in the last six weeks from $17.68. The remarkable high-speed reversal completes a rounding bottom pattern and reclaims the $30 mark.&nbsp;
Further, the Solana price shows extreme trend momentum, evidenced by 7 bullish candles in the last ten trading sessions. Moreover, the trend exceeded the $28 mark, giving bullish breakout signals a solid buy signal for sideline traders.&nbsp;
Currently, the SOL price trades at $31.58 with an intraday growth of 4.54%, the bullish momentum survives and hints at prolonging the uptrend. Further, the improving market conditions and the high sentiments will fuel the recovery rally.&nbsp;
Technical Indicators:
EMA: The 50-day and 200-day EMAs give a golden crossover, giving a strong bullish signal and trend reversal in SOL price movement.&nbsp;
RSI indicator: The daily RSI line crosses above the oversold boundary, reflecting strong buying pressure.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-sol-price-reach-30">Will the SOL Price Reach $30?</h2>
As the bullish trend momentum increases in the crypto market, the buying pressure for all the major altcoins skyrockets. Moreover, the SOL price drives past the $30 mark, giving a bullish breakout of the rounding bottom pattern. With the breakout rally sustaining momentum, the uptrend can reach the $38-$40 mark.&nbsp;&nbsp;
However, in case of a retest, the trend may fall down to $30.&nbsp;

SOL Price Analysis: Solana Rallies Past $30, Will It Cross $40?

Table of Contents

CoinPedia News

Other articles published on Oct 25, 2023

Bitcoin faces selling pressure as whale activity hikes

Peercoin (PPC) Price Prediction 2024, 2025, 2030, 2040, and 2050

Theta Network Price Surpasses 50 EMA: Is It The Right Time To Buy?

Crypto Whales Trigger Maker (MKR) Volatility with Significant Moves

El Salvador Town Tires of Waiting for Bukele, Will Build ‘Real Bitcoin City’

Fortress CEO steps down as Ripple abandoned takeover bid

Join our free newsletter for daily crypto updates!