If popular analyst Aayush Jindal of NewsBTC is to be believed, it is only a matter of time before Solana’s price breaks the $80 mark. Today the coin, which will perform fantastically in 2023, is back to $75.86, up 8.85%.
The Solana price continues to rise
There appears to be no end to Solana’s price increases in 2023. There has been a price correction to $80 in recent days, but the Ethereum competitor is now experiencing a strong recovery phase.
Fortunately for Solana, the bulls were extremely active around the $67.50 level and the coin found strong support there.
Eventually, a local low was formed at $67.25, after which the coin began trading again. climb. Solana is now back at $75.86 and the bulls seem to have full control of the project’s price again.
Based on the Jindal chart above, the coin appears to have reached important resistance again. Can Bulls Push Solana Price Further Up?
Dangers also lurk in Solana
In fact, for Solana it is not all hosanna. According to Aayush Jindal, Solana needs to break the $80 resistance or further corrections for the coin could begin.
We found the first major support (looking down) around $70. If we lose this support, Solana could retest the $67.50 price.
For now, however, little to nothing seems to be happening for the project, but a lot will also depend on Bitcoin’s performance. Solana has risen more than 8% today, but this is of course also a result of the increase of more than 5% that Bitcoin recorded from Monday to Tuesday.
Source: BTC Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
