Recent Volatility and the $190 Resistance Level ⋆ ZyCrypto
The post Recent Volatility and the $190 Resistance Level ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Major cryptocurrency Solana (SOL) will rocket upwards if it manages to break free of the $190 resistance level, according to popular crypto influencer CryptoJack on X. He tweeted that despite the ongoing crypto market slump, Solana is one cryptocurrency that can make it big if the bulls make a little effort. According to Jack: “The price of #solana is approaching the resistance of this range. Once $SOL breaks above $190 it will likely explode to the upside.” Image Source: CryptoJack on X Recent SOL Price Action SOL has had a roller coaster in the last 30 days. The index recorded a new multi-month high before slumping to 5-month lows in a flash crash. Image Source: TradingView The cryptocurrency started the last 30 days at $144 and is still trading around that valuation at press time. However, despite the negligible net change in the index at the end, the digital currency experienced major price movements during this time. Advertisement   Starting with the second half of July, the digital currency rose steadily and reached over $190 by July 24. This was a 100-day high for SOL, and the positive market conditions made many experts declare that a major bull run was imminent. However, what happened next was a major bearish spectacle. The fifth-largest cryptocurrency by market capitalization started dropping sharply in value, following BTC’s negative price trend. By August 5, it had receded a whopping 40% and went below $120. The index started to recover immediately afterward and exceeded $160, but a late price drop has forced it back below $145. Can SOL Shoot Past $190? Solana blockchain’s native cryptocurrency is no stranger to extreme price volatility. The index went below $15 during the 2022-2023 bear market but began to recover strongly at the start of the last…
Filed under: News - @ August 18, 2024 9:18 pm