Solana Price Surges Over 50%! Will SOL Price Hit $60 Soon?

The crypto trade has displayed a powerful bullish sentiment because the market has recorded important jumps in worth just lately. Additional, Bitcoin has surpassed the $37,000 mark, escalating the potential of the $40,000 goal to be achieved by the year-end.

Then again, SOL value has outperformed main cryptos by recording a achieve of over 50% in its worth inside this month and a achieve of 450% YTD. In the present day, throughout the early buying and selling hours, Solana crossed the $50 mark for the primary time since twenty second Could 2022.

The SOL value struggled to interrupt out of its resistance degree of $24.25 for a short interval, however following the market surge in October, the Solana token gained important motion in its value.

The value broke out of the resistance degree at 28.16 and continued to realize however was seen hovering near its higher resistance degree of 33.29 for some time. Solana broke out and continued to pump earlier than the value was rejected at $46.83.

Following this, the value misplaced momentum and retested its help degree at $38.77. November began on a bullish observe as the value has added over 51% in its worth inside the first ten buying and selling days of the month.

Just lately, the value was rejected at 57.84, after which the coin skilled a minor correction.

The MACD shows a rising inexperienced histogram, indicating an enormous ongoing value motion for the coin. Additional, the averages present a relentless rise, suggesting the value to proceed gaining worth within the coming days.

Will SOL Worth Get better?

If the bulls proceed to carry the value above $54.01, it is going to achieve momentum and check its resistance degree of $57.84 quickly. Additional, if the market pushes the value above the higher degree of $60.06, it is going to set the stage for the value to make a run to check its higher resistance degree of $65.08 within the coming days.

Conversely, if the bears overpowered the bulls, and the coin fails to carry its value above $54.01, it is going to lose momentum and fall to check its help degree of $46.83 quickly.

Furthermore, if the bears proceed to dominate the market, Solana will expertise a value plunge and drop to check its essential resistance at $38.77 this month.