{"id":166482,"date":"2023-10-02T11:24:48","date_gmt":"2023-10-02T05:54:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=166482"},"modified":"2023-10-02T11:24:48","modified_gmt":"2023-10-02T05:54:48","slug":"solana-surges-15-is-this-just-start-of-a-larger-increase-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/solana-surges-15-is-this-just-start-of-a-larger-increase-crypto-news\/","title":{"rendered":"Solana Surges 15%, Is This Just Start Of A Larger Increase? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Solana is surging above the $23.50 resistance against the US Dollar. SOL price could accelerate further higher if it clears the $25.00 resistance zone.<\/em><\/p>\n<ul>\n<li>SOL price is up over 15% and it is showing signs of bullish continuation against the US Dollar.<\/li>\n<li>The price is now trading below $23.00 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a key bullish trend line forming with support near $23.10 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).<\/li>\n<li>The pair could rise further higher if it clears the $25 resistance zone.<\/li>\n<\/ul>\n<h2>Solana Price Starts Fresh Rally<\/h2>\n<p>In the past few days, Solana\u2019s price formed a strong support base above the $18.80 level. SOL started a strong increase after it settled above the $22 resistance zone.<\/p>\n<p>There was a steady increase above the $23.20 resistance, outpacing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-aim-big-28k\/\">Bitcoin<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-increase-1750\/\">Ethereum<\/a>. It is up over 15% and there was a test of the $24.50 resistance. A high is formed near $24.47 and the price is now consolidating gains. SOL is well above the 23.6% Fib retracement level of the upward move from the $18.75 swing low to the $24.47 high.<\/p>\n<p>It is also trading below $23.00 and the 100 simple moving average (4 hours). Besides, there is a key bullish trend line forming with support near $23.10 on the 4-hour chart of the SOL\/USD pair.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Solana.png?resize=1024%2C458\"><\/a><\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/SOLUSD\/\">SOLUSD on TradingView.com<\/a><\/p>\n<p>On the upside, immediate resistance is near the $24.50 level. The first major resistance is near the $25.00 level. A clear move above the $25 resistance might send the price toward the $27.20 resistance. The next key resistance is near $28.80. Any more gains might send the price toward the $30 level.<\/p>\n<h2>Downside Correction in SOL?<\/h2>\n<p>If SOL fails to settle above $24.50 and $25.00, it could start a downside correction. Initial support on the downside is near the $23.20 level and the trend line.<\/p>\n<p>The first major support is near the $21.50 level or the 50% Fib retracement level of the upward move from the $18.75 swing low to the $24.47 high. If there is a close below the $21.50 support, the price could decline toward the $20.50 support. In the stated case, there is a risk of more downsides toward the $20.00 support in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD \u2013 The MACD for SOL\/USD is gaining pace in the bullish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $23.20, and $21.50.<\/p>\n<p>Major Resistance Levels \u2013 $24.50, $25.00, and $27.20.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana is surging above the $23.50 resistance against the US Dollar. SOL price could accelerate further higher if it clears the $25.00 resistance zone. SOL price is up over 15% and it is showing signs of bullish continuation against the US Dollar. The price is now trading below $23.00 and the 100 simple moving average [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":166483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-166482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=166482"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166482\/revisions"}],"predecessor-version":[{"id":166484,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/166482\/revisions\/166484"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/166483"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=166482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=166482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=166482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}