December 24, 2023 at 02:49 PM GST 1 min read News
  • Solana (SOL) experienced a significant rebound, breaking the ascending channel pattern.
  • SOL touched $99 but may face resistance at $100; sustaining above $104 could lead to further gains.
  • Bullish momentum could push SOL toward $120 next week if buyers breach the $100 level.

Solana (SOL) has made headlines with a remarkable resurgence. The cryptocurrency witnessed a substantial rebound, breaking free from the confines of its ascending channel pattern. This development underscores the notable buying interest from bullish traders.

Read CRYPTONEWSLAND on Google News google news

Solana’s price journey reached a high point of $99, a significant milestone. However, as it approaches the coveted $100 mark, it may encounter some resistance. The pivotal question on the minds of investors and traders alike is whether Solana can maintain its position above $104 without experiencing significant losses.

The answer to this question holds the key to the cryptocurrency’s short-term future. If the bulls manage to sustain their position above $104, the likelihood of the uptrend continuing remains strong. In such a scenario, buyers pushing SOL above the $100 level could set Solana on a trajectory toward $120 in the upcoming week.

Solana’s recent performance has been nothing short of impressive, capturing the attention of the crypto community. The breakout from the ascending channel pattern is a clear signal of the strong buying interest driving this rally.

As Solana enthusiasts closely monitor these developments, the cryptocurrency’s future potential is a topic of considerable interest. With the right conditions and sustained bullish sentiment, Solana appears poised for a positive trajectory within the crypto industry.

Read also:

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.