Best coin in crypto top 20! How high can SOL pump now?

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Solana price is showing bullish signs above the $15 level. As a result, SOL could now extend its recovery above the $18 and $20 resistance levels.

  • Solana has started a fresh rise above the $15 and $16 levels.
  • The price is now trading above $16 and the 100 simple moving average (4-hour).
  • An important uptrend line is forming with support at $15.90 on the 4-hour chart for the SOL/USD pair (Data Source: Kraken).
  • The pair can continue higher if it remains above $15 and $12.80 support.

Solana: The course aims for further growth

This week Solana price has formed a base and started a steady rise above the $14 level. Similar to Bitcoin and Ethereum, there was a sharp rise in Solana’s case above the $15 resistance zone.

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The bulls even managed to pump the price above the $16.50 resistance. SOL then hit a new yearly high of $17.47, now the coin is consolidating gains. There was a minor correction below the 23.6% Fib retracement level on the upswing from the $12.70 swing low to the $17.47 high.

Sol price is now trading above $16 and the 100 simple moving average (4-hour). An important uptrend line is also forming with support at $15.90 on the 4-hour chart for the SOL/USD pair.

Solana: of course wants to pump, source: SOLUSD on TradingView.de

On the upside, there is immediate resistance at $17.50, then the next major resistance is at $18. The main resistance lies in the $18.80 area – above that, the price could rise towards the $20 level. If SOL shows strength here, further gains towards the $25 level may await.

When will the correction follow?

Solana now needs to clear the resistance at $18 first. If the smart contract platform fails, a downward correction may begin. Initial support on the downside then comes at $16.35.

The first key support is at $15 and the trend line – near the 50% Fib retracement level of the upswing from $12.70 low to $17.47 high. The next key support comes as close as $14.10. If the $14.10 support is broken, the price should test the next key support at $12.80.

Technical indicators

  • MACD on 4-hour chart: MACD for SOL/USD is increasingly moving into bullish territory.
  • RSI (Relative Strength Index) on 4-hour chart: RSI for SOL/USD is above the 50 level.
  • Important support levels: $16.30, $15 and $14.10.
  • Key resistance levels: $17.40, $18 and $20.

Bullish for Investors: Fight Out Coin (FGHT) Locks 50% of Supply

While the Solana bull run is delighting SOL investors, fitness coin Fight Out (FGHT) also has good news for investors: As the Move 2 Earn project announced on Twitter, FGHT will own 50% of the total supply locked in the next five years! This means: half of all Fight Out Coins cannot be sold – a fact that speaks for the developers’ vision and can promote price stability. The team adds:

“This underscores our commitment to developing a long-term project that will ensure stability and value for our token holders and position us for growth and success in the future.”

Crypto influencer Jacob Bury is convinced of the concept and implementation, expects a strong performance of the associated FGHT token – a 10x is possible, according to the analyst:


Here for the FightOut Presale

Text credit: Newsbtc

Last updated on January 13, 2023

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