- Solana price analysis is bullish today.
- SOL/USD continued to advance.
- Next resistance at $215.
Solana price analysis is bullish today as a strong move was seen today after some consolidation below $190 resistance. Therefore, we expect SOL/USD to continue higher over the next 24 hours and target the $215 all-time high next.
The cryptocurrency market traded with mixed results as the market leaders Bitcoin and Ethereum retraced, leading to a loss of 3.45 and 1.18 percent, respectively. Meanwhile, Solana is among the top performers, with a gain of around 6.7 percent.
Solana price movement in the last 24 hours: Solana pauses below $190, breaks higher in the morning
SOL/USD traded in a range of $178.75 – $207.87, indicating very strong volatility over the last 24 hours. Trading volume has increased by 11 percent and totals $6.84 billion, while the total market cap trades around $61.18 billion, ranking the coin in 6th place overall.
SOL/USD 4-hour chart: SOL to break $215 all-time high today?
On the 4-hour chart, we can see the Solana price action continuing to rapidly advance as bulls look to reach the all-time high at $215.
Solana price action has seen consolidation over the past weeks. After an initial rally higher at the beginning of October, SOL/USD peaked at $177.5.
From the newly set high, a more than week-long retracement followed to $140. Since then, SOL/USD has slowly recovered, setting a higher low at $153 early this week.
What followed was a substantial spike higher on the 20th of October, leading SOL/USD above the previous high and towards the $190 mark initially. After some consolidation late yesterday, further upside was seen overnight, pushing SOL/USD above the $200 mark this time.
Solana Price Analysis: Conclusion
Solana price analysis is bullish as bullish momentum is still strong, taking SOL above the $200 mark. Therefore, we expect SOL/USD to approach the $215 all-time high later today.
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