Cryptocurrency Solana sets a price record, surpassing bitcoin

Solana showed significant growth during the week. The coin gained a bullish momentum after it consolidated above $ 50, outperforming the market leader BTC $98,971.89 Bitcoin 0.77% Market capitalization $1.96 trillion VOL. 24 hours $4.66 billion and the leading altcoin ETH $3,294.38 Bridged Ether (StarkGate) -1.90% Market capitalization $0.28 billion VOL. 24 hours $2.03 billion .

Cryptocurrency experts hint: «The bulls are not done yet.» Thus, the recent movement of the virtual coin has raised the price of SOL above $ 65. The maximum was formed at $ 67.21, and now the price is consolidating its gains.

Market analysts note that the immediate resistance is at $ 67.20. The first major resistance will be at $ 68. A successful close above the $ 65 resistance could give SOL a boost for further growth. The next key resistance is at $ 70. Any further growth could raise the price of the crypto asset to $ 75.00.

Nevertheless, if SOL fails to recover above the $ 68 resistance, a downward correction will occur. The initial support on the downtrend is at $ 62.50.

The first major support is at $ 57.75, followed by $ 51.23. If it closes below the support level of $ 55.00, the price could drop to $ 50 in the short term.

Technical indicators:

• 4-hour RSI (Relative Strength Index) — RSI for SOL/USD is above the 50 level.
• The main support levels are $ 62.50 and $ 57.75.
• The main resistance levels are $ 68.00, $ 70.00, and $ 75.00.

At the time of writing, Anatoly Yakovenko’s blockchain cryptocurrency is trading at $ 67.09, a 13.8% gain over the day. The total number of coins circulating on the market has reached $ 28.3 billion, and traders have made daily trading deals worth $ 4.1 billion.