If the price manages to go past the recent high of $31,300 level, then it will likely test $33.
At the time of writing, the price of Solana has increased by 4.10%, trading at $29.56.
Solana (SOL) has lately made ripples in the crypto market by rising to the $31 level, attracting the attention of the community. This result is evidence of the SOL market’s optimistic sentiment’s strength. However, at the time of writing, SOL has witnessed brief retracement.
In only 10 months, the price of SOL has skyrocketed from its initial price of $9.97 to about $31. Also, many things are still in play, but the recent price movement around $30 clearly raises worries about SOL’s ability to hit $33. However, the price has surged a whopping 52.41% in the last 30 days, showing investors confidence.
Bulls in Control
Moreover, several important price levels should be watched to see whether SOL maintains its recent uptrend, especially the $33 level. At the time of writing, the price of Solana has increased by 4.10% over the previous 24 hours, and is now trading at $29.56 as per data from CoinMarketCap. Moreover, the trading volume is down 12.50%.
Source: CoinMarketCap
However, as part of the current price activity, investors should be ready for a likely slight drop to $26.6 or $24.9. To begin a rally toward the lofty goal of $45.6, a bounce from these levels is likely essential.
If the price manages to go past the recent high of $31,300 level, then it will likely test $33 resistance level. If bulls could drive price above this level then price is likely to test $36.9 level. However, if the price goes below $28.4 level then it will likely go all the way till $26.6 support level. Further decline will see price testing $24.9 support level.