{"id":384,"date":"2022-04-01T07:37:55","date_gmt":"2022-04-01T07:37:55","guid":{"rendered":"https:\/\/solanacrypto.news\/2022\/04\/01\/solana-sol-bucks-broader-market-trend-on-opensea-nft-news\/"},"modified":"2022-04-01T07:37:55","modified_gmt":"2022-04-01T07:37:55","slug":"solana-sol-bucks-broader-market-trend-on-opensea-nft-news","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2022\/04\/01\/solana-sol-bucks-broader-market-trend-on-opensea-nft-news\/","title":{"rendered":"Solana (SOL) Bucks Broader Market Trend on OpenSea NFT News"},"content":{"rendered":"<div>\n<p><span>Key Insights:<\/span><\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p><strong>Solana (SOL) rose by 1.82% on Thursday, bucking the broader crypto market trend.<\/strong><\/p>\n<\/li>\n<li>\n<p><strong>Reports of OpenSea supporting Solana-based NFTs from April delivered support.<\/strong><\/p>\n<\/li>\n<li>\n<p><strong>Technical indicators are bullish, supporting the move through to $130 levels.<\/strong><\/p>\n<\/li>\n<\/ul>\n<p>Solana (<a target=\"_blank\" href=\"https:\/\/www.fxempire.com\/crypto\/sol\" rel=\"nofollow noopener\" data-ylk=\"slk:SOL\" class=\"link \">SOL<\/a>) gained 1.82% on Thursday. Following a 7.93% rally from Wednesday, SOL ended the day at $122.84. It was the fifteenth daily rise in 18-sessions.<\/p>\n<p>The upside came despite a bearish afternoon session for the broader <a target=\"_blank\" href=\"https:\/\/www.fxempire.com\/crypto\" rel=\"nofollow noopener\" data-ylk=\"slk:crypto\" class=\"link \">crypto<\/a> market.<\/p>\n<p>A bullish start to the day saw SOL surge to a morning high of $128.46. SOL broke through the First Major Resistance Level at $127.75 before falling back to sub-$123.<\/p>\n<h2>NFT Chatter Delivers SOL Support<\/h2>\n<p><a target=\"_blank\" href=\"https:\/\/www.fxempire.com\/news\/article\/opensea-guarantees-solana-nfts-support-starting-april-952273\" rel=\"nofollow noopener\" data-ylk=\"slk:News\" class=\"link \">News<\/a> of OpenSea supporting Solana-based <a target=\"_blank\" href=\"https:\/\/www.fxempire.com\/education\/article\/what-are-nfts-evrything-you-need-to-know-about-non-fungible-tokens-710825\" rel=\"nofollow noopener\" data-ylk=\"slk:NFTs\" class=\"link \">NFTs<\/a> from April delivered price support.<\/p>\n<p>Nidal Hussein, Co-Founder of Jambo Mambo, an NFT gaming marketplace on the Solana blockchain, told FX Empire,<\/p>\n<p>\u201cI think that OpenSea, including Solana NFT, will establish a lot of new blue-chip NFTs to the Solana ecosystem and push higher highs since it is some kind of commercialization.\u201d<\/p>\n<p>Through the second half of the day, market reaction to the EU Parliament <a target=\"_blank\" href=\"https:\/\/www.fxempire.com\/news\/article\/eu-parliament-approves-wallet-host-identity-revealing-bill-for-a-final-vote-954729\" rel=\"nofollow noopener\" data-ylk=\"slk:vote\" class=\"link \">vote<\/a> in favor of KYC requirements for private crypto wallets weighed. KYC requirements will be in place for payments above the \u20ac1,000 threshold.<\/p>\n<h2>SOL Price Action<\/h2>\n<p>At the time of writing, Solana was up by 0.78% to $123.80.<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 450px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:56%;\"><img decoding=\"async\" class=\"caas-img caas-lazy has-preview\" alt=\"A move through to $125 would bring $130 into play.\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/ULDSjoEOlNzANDiYGHqhIA--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MA--\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/W.0_ap_LTLFBfHCnIYN1Tw--~B\/aD00NTA7dz04MDA7YXBwaWQ9eXRhY2h5b24-\/https:\/\/media.zenfs.com\/en\/fx_empire_176\/8a58cba3c5afc788aea3047626081450\"\/><noscript><img decoding=\"async\" alt=\"A move through to $125 would bring $130 into play.\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/ULDSjoEOlNzANDiYGHqhIA--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MA--\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/W.0_ap_LTLFBfHCnIYN1Tw--~B\/aD00NTA7dz04MDA7YXBwaWQ9eXRhY2h5b24-\/https:\/\/media.zenfs.com\/en\/fx_empire_176\/8a58cba3c5afc788aea3047626081450\" class=\"caas-img\"\/><\/noscript><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">A move through to $125 would bring $130 into play.<\/figcaption><\/p>\n<\/figure>\n<h2><strong>Technical Indicators<\/strong><\/h2>\n<p>SOL will need to avoid the $122.56 <a target=\"_blank\" href=\"https:\/\/www.fxempire.com\/education\/article\/support-and-resistance-pivot-analysis-822845\" rel=\"nofollow noopener\" data-ylk=\"slk:pivot\" class=\"link \">pivot<\/a> to make a move through the First Major Resistance Level at $125.14.<\/p>\n<p>Broader market sentiment would need to improve to support a breakout from $125 levels.<\/p>\n<p>In the event of another extended rally, SOL should test the Second Major Resistance Level at $127.42 and resistance at $130. The Third Major Resistance Level sits at $132.27.<\/p>\n<p>A fall through the pivot would bring the First Major Support Level at $120.28 into play. Barring an extended sell-off throughout the day, Solana should avoid sub-$115. The Second Major Support Level at $117.72 should limit the downside.<\/p>\n<p><button class=\"link caas-button collapse-button\" aria-label=\"\" title=\"\" data-ylk=\"elm:readmore;slk:Story continues\">Story continues<\/button><\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 450px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:56%;\"><img decoding=\"async\" class=\"caas-img caas-lazy has-preview\" alt=\"Avoiding the day\u2019s pivot will be key to supporting another bullish day ahead.\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/OGAhH7qkIm5pAofes7Iszw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MA--\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/7CU4UJw_PVBswneJXeQcCw--~B\/aD00NTA7dz04MDA7YXBwaWQ9eXRhY2h5b24-\/https:\/\/media.zenfs.com\/en\/fx_empire_176\/685171c4768e64e162abc9bb2d1c26ba\"\/><noscript><img decoding=\"async\" alt=\"Avoiding the day\u2019s pivot will be key to supporting another bullish day ahead.\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/OGAhH7qkIm5pAofes7Iszw--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MA--\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/7CU4UJw_PVBswneJXeQcCw--~B\/aD00NTA7dz04MDA7YXBwaWQ9eXRhY2h5b24-\/https:\/\/media.zenfs.com\/en\/fx_empire_176\/685171c4768e64e162abc9bb2d1c26ba\" class=\"caas-img\"\/><\/noscript><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">Avoiding the day\u2019s pivot will be key to supporting another bullish day ahead.<\/figcaption><\/p>\n<\/figure>\n<p>The <a target=\"_blank\" href=\"https:\/\/www.fxempire.com\/education\/article\/the-complete-guide-to-trend-following-indicators-708117\" rel=\"nofollow noopener\" data-ylk=\"slk:EMAs\" class=\"link \">EMAs<\/a> and the 4-hourly candlestick chart (below) send a bullish signal. SOL currently sits above the 50-day EMA at $110.00. This morning, the 50-day EMA pulled away from the 100-day EMA. We also saw the 100-day EMA pull away from the 200-day EMA.<\/p>\n<p>SOL would need to steer well clear of sub-$115 and the 50-day EMA to support a move through $130.<\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 450px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:56%;\"><img decoding=\"async\" class=\"caas-img caas-lazy has-preview\" alt=\"SOL will need to steer clear of the 50-day EMA to maintain the momentum.\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/dBJ.S2yCccUDnFGKP3N22g--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MA--\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/q5vUAB_5XV8axVVVM75Msg--~B\/aD00NTA7dz04MDA7YXBwaWQ9eXRhY2h5b24-\/https:\/\/media.zenfs.com\/en\/fx_empire_176\/b8a9100721e30c2c5830c64153243bbc\"\/><noscript><img decoding=\"async\" alt=\"SOL will need to steer clear of the 50-day EMA to maintain the momentum.\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/dBJ.S2yCccUDnFGKP3N22g--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTU0MA--\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/q5vUAB_5XV8axVVVM75Msg--~B\/aD00NTA7dz04MDA7YXBwaWQ9eXRhY2h5b24-\/https:\/\/media.zenfs.com\/en\/fx_empire_176\/b8a9100721e30c2c5830c64153243bbc\" class=\"caas-img\"\/><\/noscript><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">SOL will need to steer clear of the 50-day EMA to maintain the momentum.<\/figcaption><\/p>\n<\/figure>\n<p>This <a target=\"_blank\" href=\"https:\/\/www.fxempire.com\/forecasts\/article\/solana-sol-bucks-broader-market-trend-on-opensea-nft-news-954976\" rel=\"nofollow noopener\" data-ylk=\"slk:article\" class=\"link \">article<\/a> was originally posted on FX Empire<\/p>\n<h3>More From FXEMPIRE:<\/h3>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key Insights: Solana (SOL) rose by 1.82% on Thursday, bucking the broader crypto market trend. Reports of OpenSea supporting Solana-based NFTs from April delivered support. Technical indicators are bullish, supporting the move through to $130 levels. Solana (SOL) gained 1.82% on Thursday. Following a 7.93% rally from Wednesday, SOL ended the day at $122.84. It [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/comments?post=384"}],"version-history":[{"count":0,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media\/385"}],"wp:attachment":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media?parent=384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/categories?post=384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/tags?post=384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}