Solana

Resistance

when

<ul>
 <li>Solana’s token (SOL) has surged from $10 to nearly $144 in the past year, with a recent 50% gain in three weeks.</li>
 <li>SOL has formed an inverted head and shoulders pattern, indicating a potential breakout.</li>
 <li>A break above $158 could trigger further gains towards $200, possibly retesting the previous high around $260.</li>
</ul>
<a href="https://thenewscrypto.com/?s=Solana" target="_blank" rel="noopener noreferrer nofollow">Solana’s</a> native token, SOL, has been on an absolute tear over the last year, skyrocketing from a low of $10 to recently crossing the major psychological threshold of $150. In fact, SOL is now trading hands for just under $144, notching a nearly 50% gain over the past three weeks alone as buyers have asserted clear control.
With momentum accelerating to the upside, technical signals are now flashing bullish for the altcoin as traders set sights on SOL’s all-time high close to $250. That key resistance level capped the powerful rally last November, which saw Solana post parabolic 1,200% gains in 2021 before peaking.
Currently ranked 5 by total market capitalization, a decisive move above the $158 mark would likely act as the catalyst for another leg higher, according to analysts. Notably, SOL appears to have formed an inverted head and shoulders pattern on its weekly chart—a reversal setup known for sparking massive breakout moves when triggered.
<figure class="wp-block-image size-full"><img decoding="async" width="1024" height="481" src="https://thenewscrypto.com/wp-content/uploads/2024/03/image-73.png" alt="" class="wp-image-93533" srcset="https://thenewscrypto.com/wp-content/uploads/2024/03/image-73.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-73-300x141.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/03/image-73-768x361.png 768w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="h-can-solana-hit-250">Can Solana hit $250?</h2>
In addition to flashing this bullish technical formation, Solana just posted a ‘triple white soldiers’ candlestick pattern over the past three weeks, indicating sustained buying pressure. Volume has also picked up markedly, highlighting conviction among bulls.
The daily MACD indicator shows strong positive momentum as well, with the MACD line crossing above the signal line to confirm an uptrend. With SOL now trading above the key 50% Fibonacci retracement level from its November peak, the stage seems set for a blue sky breakout.
If support around $140 holds firm in the near-term, traders will likely target the 1.272 Fib extension level near $200 next. Beyond that, SOL will once again test its record high from ten months ago around the $260 area.

Solana Surges Past $150 as SOL Target $250 Resistance

目錄

TheNewsCrypto

在 2024年3月12日發表的其他文章

Bitcoin Spot ETFs Near $60 Billion in Net Assets Amid Heavy Trading

Sweden Central Bank Governor Urges Separation of Bitcoin from Nation’s Financial System

Rebel Satoshi ($RBLZ) Token Could Challenge Meme Coins Like BONK and Dogwifhat (WIF) in Coming Weeks

A New Altcoin is Born in the Solana Ecosystem: Developer Team Announces

Crypto Market Liquidity Hits ATH, Altcoin Boom in View

Starknet Aims to Cut Costs with New Ethereum Rollup Strategy

訂閱免費電子報，每天收取加密貨幣最新動態！