Solana

Resistance

<p>The post <a href="https://coinpedia.org/price-analysis/solana-regains-pre-ftx-levels-before-bitcoin-can-the-sol-price-reach-300-in-2024/">Solana Regains Pre-FTX Levels Before Bitcoin: Can the SOL Price Reach $300 in 2024?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Solana now appears to be poised to dethrone XRP as the price remains elevated, surging over 30% in the past 30 days. Besides, the token has been recording nearly $3 billion in trading volume since the start of the month. Interestingly, the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noreferrer noopener">SOL price</a> has regained the levels it traded at before the FTX crash, suggesting the beginning of a fine bull run.</p> 
<p>Now the technicals also suggest the bulls may weaken to some extent as the buying volume has dropped despite a slight rise in the trading volume. It appears that the investors may have shifted their focus to BONK after JTO. Now that the <a href="https://coinpedia.org/price-analysis/bonks-historic-1000-surge-turns-it-into-a-billion-dollar-asset-will-it-dethrone-shiba-inu-after-pepe/" target="_blank" rel="noreferrer noopener">BONK price has increased by over 1000%</a> in the past 24 hours, the token is believed to maintain a healthy upswing ahead. This could negatively impact the SOL price, which may drop to test its first support.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/at7n_p-laBovpauaWcn-fOMFHFudr11jSL5-E4R53HpT3f6T9Z7qR_80wBggvXBBiX0RoW8lAcnbcZKmmZhIShC5wKHL1qKT3R4jPYqOYL0IhWWlU8beV1yiZdMa1oWHCMyq_x7N-n4urg_6ON7uluY" alt="">
</figure> 
<p>Ever since the price triggered a breakout from the lower support at the beginning of the final quarter, it has been trading within a rising wedge. Although a breakout from the pattern results in a bearish divergence, the SOL price appears to be under bullish influence. Considering the RSI, which is hovering close to the upper resistance, this indicates that the price may maintain a consolidated upswing. It may surely rise above the levels at FIB 1 at $79.44, but only after a minor pullback below $75.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-pivotal-levels-and-indicators">Pivotal Levels and Indicators</h2> 
<figure class="wp-block-table">
 <table>
  <tbody>
   <tr>
    <td class="has-text-align-center" data-align="center"><strong>Levels &amp; Indicators</strong></td>
    <td class="has-text-align-center" data-align="center"><strong>Value &amp; Actions</strong></td>
   </tr>
   <tr>
    <td class="has-text-align-center" data-align="center">RSI&nbsp;</td>
    <td class="has-text-align-center" data-align="center">69.09 / Neutral</td>
   </tr>
   <tr>
    <td class="has-text-align-center" data-align="center">MACD</td>
    <td class="has-text-align-center" data-align="center">5.71 / Buy</td>
   </tr>
   <tr>
    <td class="has-text-align-center" data-align="center">Moving Average-50&nbsp;</td>
    <td class="has-text-align-center" data-align="center">$55.55 / Buy</td>
   </tr>
   <tr>
    <td class="has-text-align-center" data-align="center">Moving Average-200</td>
    <td class="has-text-align-center" data-align="center">$29.97/ Buy</td>
   </tr>
   <tr>
    <td class="has-text-align-center" data-align="center">Resistance</td>
    <td class="has-text-align-center" data-align="center">$81.19</td>
   </tr>
   <tr>
    <td class="has-text-align-center" data-align="center">Support</td>
    <td class="has-text-align-center" data-align="center">$68.81</td>
   </tr>
  </tbody>
 </table>
</figure>

Solana Regains Pre-FTX Levels Before Bitcoin: Can the SOL Price Reach $300 in 2024?

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