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Solana

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<p>Chartist ChartMonkey <a href="https://twitter.com/ChartMonkeyBTC/status/1742143901622849571?t=e5ek-Lj5U-NVXENef5W23A&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">highlighted</a> the resilient price action Solana (SOL) has displayed amid recent crypto market turbulence:</p>
<p>ChartMonkey stated that “Solana SOL has displayed remarkable resilience, with project creators managing to revive its price even when the cryptomarket seemed to diminish. During 2023, SOLUSD reached a high, surpassing even BTC’s percentage growth.”</p>
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<p><strong>Solana</strong> (SOL) has defied bearish expectations in 2023, with SOLUSD substantially outperforming Bitcoin year-to-date. Developers’ ability to boost Solana’s price despite overall crypto market weakness shows the blockchain’s fundamental strength.</p>
<p>According to technical analysis by altFINS, the short-term outlook for SOL remains bullish. Here are some key takeaways:</p>
<h4 class="wp-block-heading">Bullish Breakout and Pullback</h4>
<ul>
 <li>SOL recently broke out above an ascending triangle pattern to hit $125.</li>
 <li>Price became overbought, with RSI near 83, prompting some profit-taking.</li>
 <li>A pullback to around $100 support could provide a swing trade entry.</li>
</ul>
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<h4 class="wp-block-heading">Uptrend Across Timeframes</h4>
<ul>
 <li>SOL is in a confirmed uptrend across short-, medium-, and long-term charts.</li>
</ul>
<h4 class="wp-block-heading">Key Support and Resistance Levels</h4>
<ul>
 <li>Support at $100 (former resistance level), $80, and Fib 50% level around $103</li>
 <li>Initial resistance at $125 with upside potential on continuation of uptrend</li>
</ul>
<h4 class="wp-block-heading">Trade Setup</h4>
<ul>
 <li>Go long on the pullback to the $100 area; stop loss around $88.</li>
 <li>Target retest of $125 resistance.</li>
</ul>
<p>With Solana holding its bullish structure despite market turbulence, technicals hint at further upside for SOL as developers continue building out the ecosystem. The current pullback sets up a favorable risk-reward long entry.</p>
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<p>The post <a href="https://captainaltcoin.com/solana-sol-price-shows-resilience-analyst-highlights-potential-upside-to-this-level/" rel="noopener noreferrer nofollow">Solana (SOL) Price Shows Resilience; Analyst Highlights Potential Upside to This Level</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana (SOL) Price Shows Resilience; Analyst Highlights Potential Upside to This Level

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