{"id":553723,"date":"2023-10-02T09:42:20","date_gmt":"2023-10-02T09:42:20","guid":{"rendered":"https:\/\/wncen.com\/?p=553723"},"modified":"2023-10-02T09:46:35","modified_gmt":"2023-10-02T09:46:35","slug":"solana-rebound-potential-is-30-the-next-target","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana-rebound-potential-is-30-the-next-target\/","title":{"rendered":"Solana Rebound Potential: Is $30 The Next Target?"},"content":{"rendered":"

Solana (SOL) has been on an impressive winning streak, with its price chart resembling the formation of an inverted head and shoulders pattern, a bullish technical indicator signaling potential upward momentum. This surge in SOL’s value has grabbed the attention of crypto enthusiasts and traders alike.\u00a0<\/span><\/p>\n

At the time of writing, SOL is trading at $24.39, according to <\/span>CoinGecko<\/span><\/a>. Over the past 24 hours, the coin has rallied by an impressive 14.5%, contributing to a seven-day surge of 25.4%. Notably, SOL recently breached the resistance level of $22.2, which now acts as a robust support zone in case of market pullbacks.<\/span><\/p>\n

Related Reading: Uniswap Soaring User Engagement: How It\u2019s Transforming UNI Price?<\/a><\/div>\n

Solana: Potential For Further Gains<\/strong><\/h2>\n

Analysts are closely monitoring<\/span><\/a> SOL’s ability to maintain its foothold above $22.1, as this could lead to another 13% price surge, with a target zone of $26 to $30. However, a word of caution is in order, as the presence of a long wick rejection around the $24 mark on the daily chart suggests the possibility of a minor pullback.\u00a0<\/span><\/p>\n

<\/p>\n

SOL market cap nearing the $10 billion mark. Chart: TradingView.com<\/a><\/pre>\n
In a <\/span>separate report<\/span><\/a>, it is noted that one SOL is currently trading at approximately 0.01281 ETH. This holds significant implications for traders and investors, particularly those closely following the SOL\/ETH trading pair. This price point signifies an increase in volatility for Solana, potentially opening up more trading opportunities and the prospect of higher returns. Perhaps even more intriguingly, it highlights Solana’s growing dominance in certain aspects of blockchain technology when compared to Ethereum.<\/span><\/p>\n
SOL\/ETH Trading Pair Signals Opportunity And Competition<\/strong><\/h2>\n
Ethereum has traditionally been the go-to platform for decentralized applications (dApps) and smart contracts. However, Solana has been making substantial headway due to its high throughput and lower transaction costs. A breakout in the SOL\/ETH trading pair could signal that the market is increasingly recognizing Solana’s potential to rival, and even surpass, Ethereum in specific use cases.<\/span><\/p>\n
\"\"<\/p>\n
SOL seven-day price advance. Source: Coingecko<\/a><\/pre>\n
Related Reading: CRV Price Surges 16% \u2013 What\u2019s The Next Move For Curve DAO Token?<\/a><\/div>\n
The implications of SOL’s recent price surge and potential breakout against Ethereum are twofold. Firstly, it indicates a renewed interest and investment in Solana, potentially driving its market capitalization higher. Secondly, it raises the possibility of a more competitive landscape within the blockchain space, with Solana emerging as a serious contender in the world of decentralized applications and smart contracts.\u00a0<\/span><\/p>\n
As crypto enthusiasts continue to watch these developments closely, the future holds exciting prospects for Solana and its investors.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Solana (SOL) has been on an impressive winning streak, with its price chart resembling the formation of an inverted head and shoulders pattern, a bullish technical indicator signaling potential upward momentum. This surge in SOL’s value has grabbed the attention of crypto enthusiasts and traders alike.\u00a0 At the time of writing, SOL is trading at $24.39, according to CoinGecko. Over the past 24 hours, the coin has rallied by an impressive 14.5%, contributing to a seven-day surge of 25.4%. Notably, SOL recently breached the resistance level of $22.2, which now acts as a robust support zone in case of market pullbacks. Related Reading: Uniswap Soaring User Engagement: How It\u2019s Transforming UNI Price? Solana: Potential For Further Gains Analysts are closely monitoring SOL’s ability to maintain its foothold above $22.1, as this could lead to another 13% price surge, with a target zone of $26 to $30. However, a word of caution is in order, as the presence of a long wick rejection around the $24 mark on the daily chart suggests the possibility of a minor pullback.\u00a0 SOL market cap nearing the $10 billion mark. Chart: TradingView.com In a separate report, it is noted that one SOL is currently trading at approximately 0.01281 ETH. This holds significant implications for traders and investors, particularly those closely following the SOL\/ETH trading pair. This price point signifies an increase in volatility for Solana, potentially opening up more trading opportunities and the prospect of higher returns. Perhaps even more intriguingly, it highlights Solana’s growing dominance in certain aspects of blockchain technology when compared to Ethereum. SOL\/ETH Trading Pair Signals Opportunity And Competition Ethereum has traditionally been the go-to platform for decentralized applications (dApps) and smart contracts. However, Solana has been making substantial headway due to its high throughput and lower transaction costs. A breakout in the SOL\/ETH trading pair could signal that the market is increasingly recognizing Solana’s potential to rival, and even surpass, Ethereum in specific use cases. SOL seven-day price advance. Source: Coingecko Related Reading: CRV Price Surges 16% \u2013 What\u2019s The Next Move For Curve DAO Token? The implications of SOL’s recent price surge and potential breakout against Ethereum are twofold. Firstly, it indicates a renewed interest and investment in Solana, potentially driving its market capitalization higher. Secondly, it raises the possibility of a more competitive landscape within the blockchain space, with Solana emerging as a serious contender in the world of decentralized applications and smart contracts.\u00a0 As crypto enthusiasts continue to watch these developments closely, the future holds exciting prospects for Solana and its investors. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from<\/p>\n","protected":false},"author":557,"featured_media":553729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,4735,86420,83626],"class_list":["post-553723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-sol-price","tag-solana"],"acf":[],"yoast_head":"\nSolana Rebound Potential: Is $30 the Next Target?<\/title>\n<meta name=\"description\" content=\"Solana (SOL) has been on an impressive winning streak, with its price chart resembling the formation of an inverted head and shoulders pattern, a bullish\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Rebound Potential: Is $30 The Next Target?","url":"http:\/\/wncen.com\/news\/solana-rebound-potential-is-30-the-next-target\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/solana-rebound-potential-is-30-the-next-target\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-5.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-5.png?fit=1081%2C603"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","price action","sol price","solana"],"dateCreated":"2023-10-02T09:42:20Z","datePublished":"2023-10-02T09:42:20Z","dateModified":"2023-10-02T09:46:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Rebound Potential: Is $30 The Next Target?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana-rebound-potential-is-30-the-next-target\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana-rebound-potential-is-30-the-next-target\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-5.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-5.png?fit=1081%2C603\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"price action\",\"sol price\",\"solana\"],\"dateCreated\":\"2023-10-02T09:42:20Z\",\"datePublished\":\"2023-10-02T09:42:20Z\",\"dateModified\":\"2023-10-02T09:46:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/a-5.png?fit=1081%2C603","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553723"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=553723"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/553729"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=553723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=553723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=553723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}