The post Solana Bulls Seem Unstoppable As They Aim For $35 appeared on BitcoinEthereumNews.com.

Solana is gaining pace above the $30 resistance against the US Dollar. SOL price remains supported and might aim for a fresh rally toward $35. SOL price started a major rally above the $28 resistance against the US Dollar. The price is now trading above $29.20 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $32.10 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could start a strong rally if it clears the $32.10 and $32.75 resistance levels. Solana Price Eyes More Upsides After forming a base above $22.50, Solana started a fresh increase. SOL gained bullish momentum after Bitcoin rallied above the $30,000 resistance. There was a strong move above the $28.80 and $30.00 resistance levels. It even spiked above the $32.50 level. A high is formed near $32.79 and the price is now consolidating gains. There is also a key contracting triangle forming with resistance near $32.10 on the 4-hour chart of the SOL/USD pair. Solana is now trading above $29.20 and the 100 simple moving average (4 hours). It is now showing positive signs above the 23.6% Fib retracement level of the upward move from the $23.13 swing low to the $32.79 high. Source: SOLUSD on TradingView.com On the upside, immediate resistance is near the $32.00 level and the triangle region. The first major resistance is near the $32.75 level. A successful close above the $32.75 resistance could set the pace for a larger increase. The next key resistance is near $35.00. Any more gains might send the price toward the $36.50 level. Are Dips Limited in SOL? If SOL fails to recover above the $32.00 resistance, it could continue to move down. Initial support on the downside is near the $30.50…

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Filed under: News - @ October 25, 2023 4:14 pm