{"id":653062,"date":"2024-11-14T21:00:46","date_gmt":"2024-11-14T21:00:46","guid":{"rendered":"https:\/\/wncen.com\/?p=653062"},"modified":"2024-11-14T10:54:13","modified_gmt":"2024-11-14T10:54:13","slug":"solana-surges-as-momentum-resumes","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/solana-surges-as-momentum-resumes\/","title":{"rendered":"Solana Surges As Momentum Resumes, Is $240 the Next Stop?"},"content":{"rendered":"

Solana<\/span><\/a> (SOL) is gaining momentum once more, with bullish energy pushing it higher as it aims for the next major resistance at $240. Following recent consolidations, SOL has surged onto traders’ radars with renewed buying interest, sparking <\/span>optimism<\/span><\/a> that the climb will continue.<\/span><\/p>\n

With market sentiment turning increasingly favorable and technical indicators pointing toward further gains, all eyes are on SOL’s potential to break through its next significant threshold. Could this be the start of a rally that propels Solana to new heights?<\/span><\/p>\n

As <\/span>bullish momentum<\/span><\/a> builds, this article delves into Solana\u2019s recent price action to evaluate whether its current upward trajectory has the strength to drive it toward the $240 mark. We\u2019ll assess SOL’s capacity to sustain its rally and reach this pivotal price target by analyzing key technical indicators, market dynamics, and support and resistance levels.<\/span><\/p>\n

Exploring The Factors Behind SOL\u2019s Uptrend<\/h2>\n

Solana is currently trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart, a clear indication of upside strength. After experiencing a brief pullback to the $200 level, SOL has regained strength, with renewed buying interest pushing it toward the next <\/span>key resistance <\/span>at $240. This upward movement suggests that the bulls are in control, and if SOL can maintain its momentum, it could soon challenge and possibly break through the $240 level, opening the door to further gains.<\/span><\/p>\n

\"Solana\"
Solana regains strength with the $240 level in sight | Source: SOLUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

An analysis of the 4-hour Relative Strength Index (RSI) reveals that the RSI has risen above the 50% threshold after dipping below it, signaling a shift in market sentiment. If the RSI continues to rise and stays above 50%, it points to the potential for more price growth and continued confidence in the price’s ability to gain.<\/span><\/p>\n

Related Reading: Solana Breaks Above Key Resistance \u2013 Top Analyst Sets $300 Target<\/a><\/div>\n

Additionally, the daily chart reveals that Solana is experiencing strong upside movement, reflected in the formation of bullish candlestick <\/span>patterns<\/span><\/a>. With the asset trading above the key 100-day SMA, its positive trend is further validated. As SOL maintains this trajectory, it bolsters market confidence, setting the stage for more gains as it eyes the $240 target.<\/span><\/p>\n

\"Solana\"
SOL’s uptrend supported by a break above the 100-day SMA | Source: SOLUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Lastly, the RSI on the daily chart is at 71%, showing strong optimistic sentiment after recovering from a dip to 69%. This rebound indicates a resurgence in buying pressure, suggesting a shift toward a more positive <\/span>market<\/span><\/a> outlook. The RSI’s constant increase signals that the asset may maintain its upward trajectory, supporting the ongoing bullish trend and paving the way for additional gains.<\/span><\/p>\n

Can Solana Break Through Resistance On Its Path To $240?<\/h2>\n

Solana is currently demonstrating strong bullish momentum, holding above the crucial 100-day SMA and recovering from recent pullbacks. As SOL advances toward the $240 target, a <\/span>breakout<\/span><\/a> above this level could trigger an extended buying pressure, propelling the price toward its <\/span>all-time high<\/span> of $260.<\/span><\/p>\n

Related Reading: Solana Market Cap Surpasses $100 Billion, Setting Up SOL For Potential ATH Rally<\/a><\/div>\n

However, failure to break above the $240 resistance could cause a decline, with the price targeting the $209 level and other <\/span>support<\/span><\/a> ranges further down.<\/span><\/p>\n

\"Solana\"
SOL trading at $221 on the 1D chart | Source: SOLUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Adobe Stock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) is gaining momentum once more, with bullish energy pushing it higher as it aims for the next major resistance at $240. Following recent consolidations, SOL has surged onto traders’ radars with renewed buying interest, sparking optimism that the climb will continue. With market sentiment turning increasingly favorable and technical indicators pointing toward further gains, all eyes are on SOL’s potential to break through its next significant threshold. Could this be the start of a rally that propels Solana to new heights? As bullish momentum builds, this article delves into Solana\u2019s recent price action to evaluate whether its current upward trajectory has the strength to drive it toward the $240 mark. We\u2019ll assess SOL’s capacity to sustain its rally and reach this pivotal price target by analyzing key technical indicators, market dynamics, and support and resistance levels. Exploring The Factors Behind SOL\u2019s Uptrend Solana is currently trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart, a clear indication of upside strength. After experiencing a brief pullback to the $200 level, SOL has regained strength, with renewed buying interest pushing it toward the next key resistance at $240. This upward movement suggests that the bulls are in control, and if SOL can maintain its momentum, it could soon challenge and possibly break through the $240 level, opening the door to further gains. An analysis of the 4-hour Relative Strength Index (RSI) reveals that the RSI has risen above the 50% threshold after dipping below it, signaling a shift in market sentiment. If the RSI continues to rise and stays above 50%, it points to the potential for more price growth and continued confidence in the price’s ability to gain. Related Reading: Solana Breaks Above Key Resistance \u2013 Top Analyst Sets $300 Target Additionally, the daily chart reveals that Solana is experiencing strong upside movement, reflected in the formation of bullish candlestick patterns. With the asset trading above the key 100-day SMA, its positive trend is further validated. As SOL maintains this trajectory, it bolsters market confidence, setting the stage for more gains as it eyes the $240 target. Lastly, the RSI on the daily chart is at 71%, showing strong optimistic sentiment after recovering from a dip to 69%. This rebound indicates a resurgence in buying pressure, suggesting a shift toward a more positive market outlook. The RSI’s constant increase signals that the asset may maintain its upward trajectory, supporting the ongoing bullish trend and paving the way for additional gains. Can Solana Break Through Resistance On Its Path To $240? Solana is currently demonstrating strong bullish momentum, holding above the crucial 100-day SMA and recovering from recent pullbacks. As SOL advances toward the $240 target, a breakout above this level could trigger an extended buying pressure, propelling the price toward its all-time high of $260. Related Reading: Solana Market Cap Surpasses $100 Billion, Setting Up SOL For Potential ATH Rally However, failure to break above the $240 resistance could cause a decline, with the price targeting the $209 level and other support ranges further down. Featured image from Adobe Stock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":653066,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[93361,16393,14763,91599,85676,12837,83626,86410,83627],"class_list":["post-653062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-buliish-candlesticks","tag-relative-strength-index","tag-rsi","tag-simple-moving-average","tag-sma","tag-sol","tag-solana","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nSolana Surges As Momentum Resumes, Is $240 the Next Stop?<\/title>\n<meta name=\"description\" content=\"Solana (SOL) is gaining momentum once more, with bullish energy pushing it higher as it aims for the next major resistance at $240.\" \/>\n<meta name=\"robots\" content=\"index, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Surges As Momentum Resumes, Is $240 the Next Stop?","url":"http:\/\/wncen.com\/news\/solana\/solana-surges-as-momentum-resumes\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/solana\/solana-surges-as-momentum-resumes\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Solana-from-Adobe-Stock-4.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Solana-from-Adobe-Stock-4.jpg?fit=540%2C360"},"articleSection":"Solana","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["buliish candlesticks","relative strength index","rsi","simple moving average","sma","sol","solana","solusd","solusdt"],"dateCreated":"2024-11-14T21:00:46Z","datePublished":"2024-11-14T21:00:46Z","dateModified":"2024-11-14T21:00:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Surges As Momentum Resumes, Is $240 the Next Stop?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana\\\/solana-surges-as-momentum-resumes\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana\\\/solana-surges-as-momentum-resumes\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Solana-from-Adobe-Stock-4.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Solana-from-Adobe-Stock-4.jpg?fit=540%2C360\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"buliish candlesticks\",\"relative strength index\",\"rsi\",\"simple moving average\",\"sma\",\"sol\",\"solana\",\"solusd\",\"solusdt\"],\"dateCreated\":\"2024-11-14T21:00:46Z\",\"datePublished\":\"2024-11-14T21:00:46Z\",\"dateModified\":\"2024-11-14T21:00:46Z\"}<\/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\/2024\/11\/Solana-from-Adobe-Stock-4.jpg?fit=540%2C360","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/653062","targetHints":{"allow":["GET"]}}],"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\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=653062"}],"version-history":[{"count":2,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/653062\/revisions"}],"predecessor-version":[{"id":653116,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/653062\/revisions\/653116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/653066"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=653062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=653062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=653062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}