Solana has experienced a significant increase, breaking past the $60 resistance level against the US Dollar. The price of SOL has grown over 50% recently and appears poised to continue its ascent, potentially reaching the $75 mark.
The rally began when SOL overcame the $55 resistance. It is now trading above $60 and has crossed the 100 simple moving average over a 4-hour period. The 4-hour chart of the SOL/USD pair, with data sourced from Kraken, shows a strong bullish trend line forming with support near $55.00. The upward momentum is likely to persist, especially if SOL can surpass the $68.00 resistance zone.
Solana’s Value Rises Quickly
Recently, Solana’s value jumped a lot, going above $50. SOL got really strong after it passed the $50 mark, doing better than Bitcoin and Ethereum.
Its price rose more than 50% in just a few days, and it seems like it will keep going up. The price went over $65, and the highest it reached was near $67.21. Now, Solana’s price is staying steady, showing good signs. It’s doing well, especially compared to its recent low of $51.23 and high of $67.21.
SOL is currently being traded for more than $60 and is doing better than the average price over the last 100 hours. Also, there’s a really positive trend in its value, with strong support around $55, as seen in the SOL/USD chart for every 4-hour period.