- Crypto dealer and analyst Bluntz Capital shared his bullish outlook for SOL in a tweet.
- The dealer believes that there’s nonetheless room for the value of SOL to rise one other 100%.
- At press time, SOL was buying and selling at $16.746 after gaining 5.44% previously 24 hours.
A well-liked crypto dealer and analyst, Bluntz Capital, took to Twitter to share his overwhelmingly bullish outlook on Solana (SOL). In response to the dealer, SOL witnessed a stable and highly effective response from a serious assist degree, accompanied by a transparent three-wave decline when seen over longer time frames.
The message added that there’s a chance that the value of SOL will rise one other 100%. In the meantime, CoinMarketCap reported that SOL was one in all a number of cryptocurrencies that noticed their costs rise within the final 24 hours of buying and selling.
At press time, the altcoin was buying and selling at $16.746 after seeing a worth enhance of 5.44%. Consequently, SOL was buying and selling a lot nearer to its each day excessive of $17.12 than its 24-hour low of $15.76. The rising worth of the crypto additionally ended up pushing its weekly efficiency even additional into the inexperienced at +10.23%.
On high of that, SOL’s 24-hour buying and selling quantity noticed a greater than 60% surge in throughput final day, leaving it at round $326 million. SOL reached its all-time excessive (ATH) of $260.06 in November 2021. Since then, the value of the altcoin has fallen over 93%.
SOL’s worth had breached a key resistance degree at $16.744 earlier in in the present day’s buying and selling session, however the bears had been fast to push the altcoin’s worth again under the extent. Nonetheless, SOL worth was nonetheless buying and selling above the 9-day EMA line at press time and was additionally trying to break above the 20-day EMA line.
If the crypto worth is ready to break above the 20-day EMA inside the subsequent 48 hours, then it should have a transparent path to the subsequent resistance degree at $19.844. However, failure to shut above the technical indicator within the subsequent 2 days will put the value of SOL liable to falling to $13.790 subsequent week.
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