CandleFocus Solana Price Surges 22%; SOL Sets Sights on $250 Next Week
2024-11-09
Author: Content Editor
Solana (SOL) has experienced a significant price surge of 22% in the past week, reaching a high near $205. The altcoin is currently trading around $198.60 and has strong bullish momentum, indicated by an RSI reading of 70.35. With a trading volume of $5.71 billion in the past 24 hours, SOL's upward trend aligns with historical patterns and technical indicators suggest strong support at $163.99. If this momentum continues, SOL could reach the $250 mark, with the next major resistance level at $209.90. On-chain data also supports the bullish trajectory of SOL, with positive funding rates and a tilt towards short liquidations indicating a short squeeze. However, whether SOL can overcome resistance levels and reach its all-time high of $260.06 remains to be seen. The next few trading sessions will be crucial for determining SOL's trajectory.
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