Solana showed significant gains and broke above the $60 resistance level against the US dollar. The price of SOL has recently risen by more than 50% and looks set to continue rising, potentially reaching the $75 range.
The rally began with SOL overcoming $55 resistance. It is currently trading above $60 and has been above the 100 simple moving average for 4 hours. The 4-hours chart of the SOL/USD pair using data sourced from Kraken shows a strong bullish trendline forming with support near $55.00. The upward momentum is likely to continue, especially if SOL can break above the $68.00 resistance area.
Solana’s value rises quickly
Recently, Solana’s value jumped significantly, surpassing $50. SOL got really strong after crossing $50, outperforming both Bitcoin and Ethereum.
The price rose by more than 50% in just a few days and is expected to continue to rise in the future. The price exceeded $65 and the highest was close to $67.21. Currently, Solana’s price remains stable and shows good signs. In particular, it is performing well compared to the recent low of $51.23 and the high of $67.21.
SOL is currently trading above $60, better than its average price over the last 100 hours. Additionally, as can be seen on the 4-hourly SOL/USD chart, there is a very positive trend in its value, with strong support around $55.
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