Solana

United

Strong

Bitcoin

<ul>
 <li><strong>At the time of writing, SOL is trading at $101.73, up 12.34% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go past $110 level, then it will likely test $116 resistance level.</strong></li>
</ul>
<p>With the final applications for Bitcoin ETFs submitted to the United States <a href="https://thenewscrypto.com/sec-issues-fomo-warning-ahead-of-potential-bitcoin-etf-approvals/" target="_blank" rel="noopener noreferrer nofollow">SEC</a> on Monday, January 8, the crypto market as a whole and Bitcoin in particular saw a significant rally. Moreover, altcoins like Solana (SOL) have seen a significant recovery.</p>
<p>Strong selling pressure has been plaguing SOL since the beginning of 2024. Consequently, Solana’s price plummeted all the way to $85.5 yesterday. However, SOL’s price made a solid comeback and is now trading above $100 with a 12.34% gain in the last 24 hours.</p>
<p>Since new trends indicate a possible increase in the price of <a href="https://thenewscrypto.com/solana-faces-selling-pressure-amidst-ongoing-bears-dominance/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> (SOL), cryptocurrency experts are keeping a careful eye on the moves. On the hourly chart, the experts have seen a bull flag formation, with $110 serving as the important resistance level.&nbsp;</p>
<h3 class="wp-block-heading" id="h-significant-comeback">Significant Comeback</h3>
<p>Crypto markets got off to a great start in 2024, with inflow investments exceeding $151 million in the first week as per a report from CoinShares. Even though SOL had a great year in 2023, it did not make a significant contribution to the recent funds.</p>
<p>At the time of writing, SOL is trading at $101.73, up 12.34% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 40.75%.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2024/01/SOL_7D_graph_coinmarketcap-4.png" alt="" class="wp-image-88846" srcset="https://thenewscrypto.com/wp-content/uploads/2024/01/SOL_7D_graph_coinmarketcap-4.png 630w, https://thenewscrypto.com/wp-content/uploads/2024/01/SOL_7D_graph_coinmarketcap-4-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the price manages to go past $110 level, then it will likely climb further to test $116 resistance level. On the other hand, if the price manages to go below $96.5 level, then it will likely decline further to test $85.5 support level. Breaking below this level will likely see price testing $70.8 support level.</p>

Solana Breaks Above $100 Mark as Bull Make a Strong Comeback

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TheNewsCrypto

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