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Thursday, February 2, 2023
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    HomeMarketSolana jumps by 7% to surpass the $11 resistance mark: Should you...

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

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    • Solana is the perfect performer amongst the highest 20 cryptocurrencies by market cap right this moment.

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

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

    SOL soars previous the $10 resistance stage

    SOL, the native token of the Solana ecosystem, is the perfect performer amongst the highest 20 cryptocurrencies by market cap right this moment. The coin has added greater than 7% to its worth, permitting it to surpass a vital resistance stage. 

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

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

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

    Key ranges to look at

    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 for the reason that begin of the week.

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

    The 14-day RSI of 76 reveals that SOL might be heading into the overbought area if the rally continues.

    If the bulls stay in cost, SOL might surge previous the primary main resistance stage at $13.09 earlier than the top of the day. Nonetheless, except SOL features help from the broader crypto market, it will discover it exhausting to maneuver previous the second main resistance stage at $14.90 within the close to time period.

    The place to purchase Solana now

    eToro

    eToro presents a variety of cryptos, akin to Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro customers can join with, study from, and replica or get copied by different customers.


    Buy SOL with eToro today

    Public

    Public is an investing platform that lets you make investments shares, ETFs, crypto, and different belongings like nice artwork and collectibles—multi function place.


    Buy SOL with Public today



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