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May 22, 2024
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Solana Does Not Seem to Stop Anytime Soon-Has the SOL Bull Run Begun?

The post Solana Does Not Seem to Stop Anytime Soon-Has the SOL Bull Run Begun? appeared first on Coinpedia Fintech News

The crypto markets continue to consolidate as the global crypto market cap settles around $1.18 trillion, with a minor drop of 0.2%. Besides, the star crypto, Bitcoin, continues to trade within a narrow region as its dominance continues to rise. Amid the hustle among the major tokens, Solana is leading its own way towards higher targets. 

The SOL price has maintained a decent surge since the start of the month and is expected to continue for the rest of the month. Presently, the price has broken through a bearish resistance line that has held strong for a couple of months. This could be a huge signal of rising volatility, which may be in favour of crypto in the long term. 

As seen above, the price has risen above the interim resistance line or the descending trend line. The RSI is rising, and hence the price is also expected to maintain a notable upswing and test the immediate resistance between $26.29 and $27.02. The price during the weekend is expected to achieve these levels, and after a minor correction, it may continue to maintain a healthy upswing towards $30. 

On the other hand, the RSI is heading towards overbought levels, and hence a minor pullback could be possible. Hence, the Solana price prediction for the week is pretty bullish and hence it may head towards $30 only if it surpasses the crucial resistance at $24 and later at $26. 

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