Solana jumps by 7% to surpass the $11 resistance mark: Should you buy?

    • Solana is the finest performer amongst the high 20 cryptocurrencies by market cap at the moment.

    • SOL is buying and selling above $10 once more after rallying greater than 7% in the final 24 hours.

    • The complete cryptocurrency market cap stays above $800 billion.

    SOL soars previous the $10 resistance stage

    SOL, the native token of the Solana ecosystem, is the finest performer amongst the high 20 cryptocurrencies by market cap at the moment. The coin has added greater than 7% to its worth, permitting it to surpass an important resistance stage. 

    At press time, the price of Solana stands at $11.89, up by greater than 7% in the final 24 hours. There isn’t any catalyst behind SOL’s ongoing constructive efficiency.

    The broader crypto market is buying and selling in the inexperienced zone, however a number of of the main cash and tokens are recording losses. The complete crypto market cap stands at $808 billion, up by lower than 1% at the moment.

    Bitcoin, the world’s main cryptocurrency by market cap, is buying and selling in the purple zone. It has misplaced lower than 1% at the moment, and the price of Bitcoin at present stands at $16.735. 

    Key ranges to watch

    The SOL/USD 4-hour chart has turned bullish, as Solana has been performing effectively over the previous couple of days. The technical indicators present that Solana has been outperforming the broader market since the begin of the week.

    The MACD line crossed into the constructive zone earlier this week, indicating that the bulls at the moment are accountable for the Solana market. With the help of the broader market, the line might enter deeper into the constructive area.

    The 14-day RSI of 76 exhibits that SOL may very well be heading into the overbought area if the rally continues.

    If the bulls stay in cost, SOL might surge previous the first main resistance stage at $13.09 earlier than the finish of the day. However, until SOL positive factors help from the broader crypto market, it will discover it arduous to transfer previous the second main resistance stage at $14.90 in the close to time period.

    Where to purchase Solana now


    eToro is a world social funding brokerage firm which affords over 75 cryptocurrencies to spend money on.

    It affords crypto buying and selling commission-free and customers on the platform have the choice to manually make investments or socially make investments.

    eToro even has a singular CopyTrader system which permits customers to robotically copy the trades of well-liked buyers.

    Buy SOL with eToro today


    OKX is a high cryptocurrency change which affords over 140 cryptocurrencies to spend money on.

    OKX takes buyer safety very severely, they retailer nearly all of their shoppers’ funds in chilly storage, and the change is but to be hacked.

    On high of this, the change affords very low charges and prospects may even use their crypto as collateral for loans on the platform.

    Buy SOL with OKX today

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