Solana (SOL) Price Analysis for October 24

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The bull run continues on the cryptocurrency market, according to CoinStats.

SOL/USD

The rate of Solana (SOL) keeps rising, going up by almost 9% since yesterday.

Despite the sharp rise, the price of SOL keeps looking bullish on the hourly chart. The rate is on its way to testing the resistance of $32.57. If the daily bar closes around that area, the breakout may lead to a blast to the $33 zone soon.

On the bigger time frame, one should focus on the bar closure in terms of yesterday’s candle peak. If it happens near the $32.81 mark, there is a high chance of seeing a test of $33 by the end of the week.

A less positive picture can be seen on the daily chart against BTC as the leading crypto is rising faster than SOL.

However, if buyers can seize the initiative and the bar closes near the 0.001025 mark, the accumulated energy might be enough for a midterm rise to the 0.0011 zone.

SOL is trading at $32.04 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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