{"id":2217,"date":"2023-07-19T12:20:33","date_gmt":"2023-07-19T12:20:33","guid":{"rendered":"https:\/\/solanacrypto.news\/2023\/07\/19\/solana-must-flip-this-level-so-bulls-can-have-their-fun-again\/"},"modified":"2023-07-19T12:20:33","modified_gmt":"2023-07-19T12:20:33","slug":"solana-must-flip-this-level-so-bulls-can-have-their-fun-again","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2023\/07\/19\/solana-must-flip-this-level-so-bulls-can-have-their-fun-again\/","title":{"rendered":"Solana must flip this level so bulls can \u2018have their fun again\u2019"},"content":{"rendered":"
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Although Solana (SOL<\/a>) has been taking the cue from the rest of the cryptocurrency market<\/a> that has received a bullish<\/a> push in the form of a favorable outcome in the court standoff between the United States Securities and Exchange Commission (SEC<\/a>), it could rally even more, provided it flipped a critical level.<\/p>\n

Specifically, pseudonymous cryptocurrency<\/a> analyst Crypto Tony<\/em> has observed that Solana<\/a> needed to flip the supply zone level at $30.60 for continuation and for the bulls to \u201chave their fun again,\u201d as he explained in a chart pattern<\/a> analysis tweeted<\/a> on July 18.<\/p>\n

Furthermore, according to the crypto<\/a> analyst, \u201cright now, we are just consolidating between the supply zone and the trend line support<\/a>,\u201d as the price of Solana currently stands at $26.33, which means it would need to gain about 16% in order to meet the above projections.<\/p>\n

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Solana price action analysis and prediction. Source: <\/em>Crypto Tony<\/em><\/a><\/figcaption><\/figure>\n

Solana price analysis<\/h2>\n

In the meantime, the current price of Solana represents a gain of 2.92% in the last 24 hours, as well as an advance of 19.69% across the previous seven days and a more significant 69.96% increase on its monthly chart, as per the most recent data retrieved by Finbold on July 19.<\/p>\n

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Solana 24-hour price chart. Source: <\/em>Finbold<\/em><\/a><\/figcaption><\/figure>\n

All things considered, Solana has a solid chance of reaching the above target, particularly as Finbold earlier reported<\/a> on SOL defying the odds and making an extraordinary comeback after facing strong selling pressure following the SEC\u2019s lawsuits against major crypto exchanges<\/a>.<\/p>\n

On top of that, the Solana blockchain<\/a> has recorded<\/a> a 99.72% uptime in the last nine months, which is particularly important as previous outages had cast doubt on Solana\u2019s standing as a high-performance network designed to complete speed transactions.<\/p>\n

Disclaimer:<\/em><\/strong> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.<\/em><\/p>\n<\/div>\n