Cryptocurrency

2024

Solana

<p>Recently, the movements of SOL, the native cryptocurrency of Solana, have been making headlines. The asset’s price plummeted after a series of notable increases in recent weeks. The situation was such that some believed Solana was undergoing the beginnings of a correction. However, a recent upward movement puts all these speculations into perspective.</p>
<h2 id="h-the-native-cryptocurrency-of-solana-breaks-the-fibonacci-retracement-level">The Native Cryptocurrency of Solana Breaks the Fibonacci Retracement Level</h2>
<p>SOL, the native cryptocurrency of Solana, surprises once again with an unexpected increase in its price. It has recorded an impressive surge of more than 10.49&nbsp;% in the last 24&nbsp;hours. A surge that demonstrates the strong momentum of the cryptocurrency.</p>
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<p><a href="https://www.newsbtc.com/analysis/sol-price-surges-10-solana-aim-125/" target="_blank" rel="noopener noreferrer nofollow">This rise</a> follows a new rally that started above the crucial resistance level of 100 dollars. This, while a few days ago, an unexpected drop in the crypto’s valuation raised doubts about SOL’s short-term performance.</p>
<p>Ultimately, the asset somewhat defied predictions, much to the delight of its users. As evidenced by its price, which rose from around 100&nbsp;dollars to 115&nbsp;dollars. A dynamic that could continue as the cryptocurrency has gained 0.33&nbsp;% over the past hour.</p>
<p>In any case, this new dynamic constitutes a remarkable bullish movement. But it’s a very particular trend. It breaks the 50&nbsp;% Fibonacci retracement level of the downward movement between the high (126.13&nbsp;dollars) and the low (93.50&nbsp;dollars).</p>
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     <p lang="en" dir="ltr">SOL Price Surges 10% As Solana Bulls Aim New High Above $125 <a href="https://t.co/VZD3MNTxrs" rel="noopener noreferrer nofollow">pic.twitter.com/VZD3MNTxrs</a></p>— shahzadgill (@Shahzad35088757) <a href="https://twitter.com/Shahzad35088757/status/1742075065494073817?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 2, 2024</a>
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  The SOL cryptocurrency records an impressive rally, breaking through the 100 dollar resistance and aiming for new highs
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<h2 id="h-towards-a-new-explosion-in-the-sol-price">Towards a New Explosion in the SOL Price?</h2>
<p>SOL is currently trading around 115&nbsp;dollars. By reaching this level, Solana’s native cryptocurrency seems to have broken through the immediate first resistance located around 114&nbsp;dollars. Now, the asset is heading towards other targets.</p>
<p>In this dynamic, analysts believe that the first major obstacle should be the 118&nbsp;dollar level. This represents the 76.4&nbsp;% Fibonacci retracement level, with a primary resistance located around 125&nbsp;dollars.</p>
<p>For analysts, a successful close above this level could catalyze a substantial rally, with the next key resistance located at 138&nbsp;dollars. New gains could then propel the SOL cryptocurrency towards the 145&nbsp;dollar level.</p>
<p>Conversely, a failure to surpass the 118&nbsp;dollar resistance level could trigger a downward correction. Worse, a break below 100&nbsp;dollars would lead to a test of the 94&nbsp;dollar support. If this is breached, the price of <a href="https://www.cointribune.com/en/solana-excels-and-outperforms-ethereum/" target="_blank" rel="noopener noreferrer nofollow">Solana’s native cryptocurrency</a> could then decline in the short term, towards the 80&nbsp;dollar support.</p>

Crypto: Solana Surprises Investors with a 10% Increase

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