The price of Solana (SOL) has surged to $115, and there is potential for another 10% rally. SOL started a fresh upward movement from the $95 support level against the US Dollar. It is currently trading above $105 and the 100 simple moving average on the 4-hour chart. A key bullish trend line is forming with support at $109.20.
If SOL (one of the top 10 altcoins) clears the resistance levels at $115 and $118, it could continue its rally. Immediate resistance is at $115, followed by $118 and $125. On the downside, initial support is at $112.20, and the major support levels are $109.20, $102.20, and $105. The MACD indicator and RSI are both showing bullish signals.
SOL initiated a fresh upward movement after finding support at the $95 level against the US Dollar. The price has successfully surpassed the $105 mark and is currently trading above the 100 simple moving average on the 4-hour chart, indicating a positive trend. Additionally, a crucial bullish trend line is forming with support at $109.20, further bolstering the bullish case for SOL.
In summary, the price of Solana (SOL) has witnessed a substantial surge and shows potential for further gains. With strong bullish momentum, SOL has surpassed key resistance levels and is currently trading above the 100 simple moving average. The presence of a bullish trend line further strengthens the positive outlook.
Source: NEWSBTC
