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Cryptocurrency Solana sets a price record, surpassing bitcoin

12:42 pm, November 16, 2023

Solana showed significant growth during the week. The coin gained a bullish momentum after it consolidated above $ 50, outperforming the market leader BTC $74,834.74 Bitcoin -0.11% Market capitalization $1.48 trillion VOL. 24 hours $5.88 billion and the leading altcoin ETH $2,843.45 Bridged Ether (StarkGate) 9.46% Market capitalization $0.23 billion VOL. 24 hours $2.52 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.

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BTC

$74,834.74

-0.11%

ETH

$2,843.45

9.46%

BNB

$601.60

3.26%

XRP

$0.56

4.94%

SOL

$189.82

1.87%

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