SOL Price Resumes Rally, Here’s Why Solana Could Pump 20%

Dec 14, 2023 08:00 am Cryptocurrency 108

Solana stayed above the $65 support and started a fresh increase. SOL price is likely setting up for more gains above the $75 and $80 resistance levels.

SOL price started a fresh rally above the $68 resistance before the bears appeared against the US Dollar.

The price is now trading above $68 and the 100 simple moving average (4 hours).

There is a major bullish trend line forming with support near $65.50 on the 4-hour chart of the SOL/USD pair (data source from Kraken).

The pair is up nearly 10% and might rally further above the $75 resistance zone.

Solana Price Signals Rally

In the past few days, Solana saw a downside correction from the $77.75 zone, like Bitcoin and Ethereum. SOL declined below the $75 and $70 support levels.

However, the bulls were active above the $65 support. A low was formed near $63.78 ..

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