Solana

altFINS

Resistance

<p><em><strong>Solana Surges Over 60% in October but Faces Resistance at $40</strong></em></p>
<p>The cryptocurrency Solana (SOL) has seen a remarkable comeback over the past month, rising over 60% in October <a href="https://x.com/santimentfeed/status/1719478624384946479?s=20" target="_blank" rel="noopener noreferrer nofollow">according </a>to data from Santiment. This price increase has propelled Solana back into the top 10 cryptocurrencies by market capitalization, now sitting at #7.</p>
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<p>Santiment reports that discussions about Solana have also been increasing across social media and online forums. Rising interest and volume in a cryptocurrency is often a bullish sign for future price appreciation.</p>
<p>However, technical analysis firm altFINS cautions that this rapid price increase has left Solana overextended and overbought. Indicators like the Relative Strength Index (RSI) are flashing warning signs of being in overbought territory.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-1024x573.png" alt="" class="wp-image-367948" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-9-788x441.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<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>altFINS notes the bullish breakout from a falling wedge pattern that sparked this Solana rally. But with the RSI above 80, they believe a pullback or consolidation is likely before Solana can make another leg higher.</p>
<p>The key support zone to watch according to altFINS is the $25 to $30 area, which previously acted as resistance. If Solana falls back to this zone, it could present another buying opportunity before rallying higher.</p>
<p>Upside potential seems limited in the short-term, with altFINS pointing to strong resistance around $40.</p>
<p>While Solana’s fundamentals and developer activity remain strong, its technicals suggest limited upside in the very near-term until the cryptocurrency cools off from its overheated rally. But any pullback that retests support could provide another entry point for investors with a bullish long-term outlook.</p>
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<p>The post <a href="https://captainaltcoin.com/solana-skyrockets-over-60-in-october-rally-but-roadblocks-remain/" rel="noopener noreferrer nofollow">Solana Skyrockets Over 60% in October Rally, But Roadblocks Remain</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana Skyrockets Over 60% in October Rally, But Roadblocks Remain

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