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.
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