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Solana (SOLUSD) Presents Strong Resistance Level at $215.79

Johnathon Fox
11/15/2024 | UPDATED ON: 11/15/2024

Solana (SOLUSD) Price Forecast: November 15

The SOLUSD market presents a strong resistance level at $215.79, fueled by a broader crypto market rally with high investor interest signaling robust growth. The coin price has been relatively stable in the past few days. As a result, if buyers can put more effort into their market tension, the trend could shift upward to the $225 high value, resulting in an intraday gain and robust growth for a potential 50% rally.

Key Levels:
Resistance Levels: $213.00, $214.00, $215.00
Support Levels: $155.00, $154.00, $153.00

SOL (USD) Long-term Trend: Bullish (Daily Chart)

The SOLUSD price presents a strong resistance level and remains pressured in a bullish zone in its higher time frame. Obviously, prices are trading close to the upper resistance area above the EMA-50, suggesting bullish momentum.
Solana (SOLUSD) Presents Strong Resistance Level at $215.79
The significant impact of buy investors and their high order flow in the past few days has contributed to this bullishness in its recent resistance level.

Today, the Solana market shows a broader recovery in prices, as the coin price presents strong resistance at $215.79 above the EMA-50, while the bulls took their stand to continue the up north journey.

Meanwhile, staying close to the upper resistance level above the EMA-50 indicates a high likelihood of a more bullish correction. Thus, a potential bullish continuation and a strong break up above the $225.00 barrier level would amplify bullish pressure.

In conclusion, the market price of Solana is pointing up on the daily stochastic, suggesting that the bulls may continue trending up. Hence, the expected upside in the coin price could be high at $250.00 in the upcoming days as the token presents a strong resistance level in its long-term outlook.

SOL (USD) Medium-term Trend: Bullish (4H Chart)

The SOLUSD price is currently trending up and presents a strong resistance level as it remains strong in a bullish market in its medium-term outlook. Furthermore, the SOLUSD pair is close to the upper resistance levels above the 50-day moving average, indicating an uptrend.
Solana (SOLUSD) Presents Strong Resistance Level at $215.79
This is a result of consistent buying in the previous action, sustaining the crypto market to present a strong resistance above the supply levels in its recent high.

As the 4-hour chart resumes today, Solana’s price presents strong resistance at the $215.79 high mark above the EMA-50, highlighting robust performance and strong investor interest.

However, the buy traders could not relent, as they aim to continue trending up and drag the price of SOLUSD further to a significant level. Further buying pressure might lead the price of Solana to hit the $225 resistance level soon.

Notably, the bullish correction at the mentioned resistance level indicates that the bulls are planning to strongly move the price of Solana to a high level; the $250.00 upper high mark might be the target in the future as the crypto presents a strong resistance level in its medium-term horizon.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
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