Convergence

Solana

Resistance

Divergence

The post <a href="https://coinpedia.org/price-analysis/solana-breaks-its-major-resistance-level-will-the-sol-price-hit-80-this-month/">Solana Breaks Its Major Resistance Level! Will THE SOL Price Hit $80 This Month?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The Solana token has witnessed a jump of over 11% in the past 24 hours, making it one of the top gainers of the day. Further, the token has successfully achieved its target price of $70, indicating a massive bullpower in the crypto space. 
The <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">Solana price</a> traded in a consolidated range between $38.77 and $42.25 for over a week, following which the market gained momentum and the price surged. The SOL price recorded a jump of approximately 50% in value before facing rejection at $62.81. 
The Sol coin price then traded sideways for a while, following which the bulls regained momentum and broke out of the resistance level, but the rally was short-lived as the price faced rejection at $65.90. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/z0poyFExKltajnfK2WHL_os8XuVw6YdUza4-hmQ-mEHqkTy_5hQYPpaSOnrW7QzrnWIiE1BwQraff6vXsn9GNJuKKcGvxJrj9SI8KkVbeaPKmfhjndBp6veCGtTlXs0ivcAWlnNL6JuOv9Vg1syjaDI" alt="Solana Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: SOL/USDT
 </figcaption>
</figure> 
The price then traded in a consolidated range between $54.01 and $59.73 for two weeks, following which the bulls regained momentum and successfully broke out of their resistance level. 
The SOL token then traded in a closed space between $59.73 and $62.81 for over a week and displayed constant price volatility. 
Recently, the price regained momentum and witnessed a jump of over 15% in value. This resulted in a new yearly high of $72.78, following which the price experienced a minor correction. 
The Moving Average Convergence Divergence (MACD) displays a rising green histogram, indicating an ongoing massive price action. Further, the averages show a sharp rise, suggesting the price to continue gaining value in the coming days. 
<h2 class="wp-block-heading" id="h-will-the-sol-price-hit-75-this-week">Will The SOL Price Hit $75 This Week?</h2> 
If the bulls hold the price strong above the support level of $70, the price will continue to gain momentum and prepare to test its resistance level of $75 in the coming days. 
Maintaining the price at that level will set the stage for Solana to attempt to test its upper resistance level of $80 this month. 
Conversely, if the bears overpower the bull, the price will lose momentum and fall to test its support level of $65 soon. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $62.83 in the coming week.

Solana Breaks Its Major Resistance Level! Will THE SOL Price Hit $80 This Month?

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