Solana

Strong

TRON

Zero

Gains

<ul class="wp-block-list">
 <li>Solana (SOL) has shown strong performance, climbing over 12% in the past week.</li>
 <li>The global crypto market faced selling pressure, leading to a 2% decline in market cap in the past 24 hours.</li>
</ul>
The crypto market has faced a wave of <a href="https://thenewscrypto.com/crypto-market-turns-red-as-major-coins-plummet/" target="_blank" rel="noopener noreferrer nofollow">selling pressure</a>, with many major digital assets slipping into the red over the last 24 hours, leading to a 2% dip in the total market cap. This week has been marked by sharp price swings, as October’s rally began to lose steam and left bulls struggling to hold their ground.&nbsp;
Among the turmoil, however, a few altcoins have still managed to stand out, with Solana (SOL), TRON (TRX), and Uniswap (UNI) showcasing notable performances over the past week.
Solana has been one of the <a href="https://thenewscrypto.com/will-solanas-bullish-momentum-sustain-amid-selling-pressure/" target="_blank" rel="noopener noreferrer nofollow">stronger performers</a> despite the broader market correction. Over the past week, SOL surged more than 12%, hitting a high of $179 before pulling back to around $168.64 at the time of writing.&nbsp;
While it has retraced from a weekly high, this latest price shows a slight recovery from its intraday low of $160.04. The trading volume for SOL also jumped by over 44%, reaching a remarkable $44.95 billion, reflecting continued investor engagement.
<h3 class="wp-block-heading" id="h-can-solana-overcome-short-term-pressure">Can Solana Overcome Short-Term Pressure&nbsp;</h3>
On the technical front, the current MACD setup for Solana, with the MACD line at 0.53 below the Signal line at 1.76 but both above the Zero line at -1.24, suggests a temporary dip in momentum within a broader uptrend. This setup indicates that while Solana may experience short-term bearish pressure, the overall <a href="https://thenewscrypto.com/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">trend remains positive</a>, potentially signaling consolidation before another upward move.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="513" src="https://thenewscrypto.com/wp-content/uploads/2024/10/image-85-1024x513.png" alt="" class="wp-image-111968" srcset="https://thenewscrypto.com/wp-content/uploads/2024/10/image-85-1024x513.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/10/image-85-300x150.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/10/image-85-768x385.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/10/image-85.png 1296w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Solana (SOL) Price Chart (Source: <a href="https://in.tradingview.com/symbols/SOLUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Next the Relative Strength Index (RSI) at 58.25, SOL is in a neutral-to-slightly-bullish zone, suggesting moderate buying interest and the potential for further gains if demand picks up.&nbsp;
Key support for Solana is currently around $155, and if it breaks through the $180 resistance, it could set its sights on reaching $193 or even $220. While there may be some short-term pressure, the long-term outlook for SOL appears strong.
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Solana Posts Strong Weekly Gains Despite Market Downturn

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