• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

Solana (SOLUSD) Price Breakout and Bullish Continuation

Johnathon Fox
10/21/2023 | UPDATED ON: 10/21/2023

Solana (SOLUSD) Price Forecast: October 21
The SOLUSD price by virtue of high buying pressure holds a price breakout and bullish continuation. The coin is currently trading in a strong bullish market and may likely increase further, if the bulls could add more strength to their potential buying and the market price sustains above the $29.11 high mark, the potential rally could surge above the $32.40 higher level to hit the $32.50 upper resistance value and beyond.

Key Levels:
Resistance Levels: $25.00, $26.00, $27.00
Support Levels: $20.00, $19.00, $18.00

SOL (USD) Long-term Trend: Bullish (Daily Chart)
Solana is in a positive movement today. The price is strongly trading in a bullish momentum in its higher time frame. The crypto suggests a price breakout and bullish continuation as it faces the upper resistance value and signifies a buy signal.
Solana (SOLUSD) Price Breakout and Bullish Continuation
In the previous actions the coin has been having high interference from buyers which really made it easier for the cryptocurrency to maintain stable upside moves in recent times.

The coin price breakout at the $24.01 resistance value above the two EMAs as the daily chart opens today indicates the high buying impact from the bulls resulting in intraday gains.

Based on the outlook, should the bulls go higher and close above the $32.40 high mark, a bullish breakout confirmation will reflect the improved market sentiment.

Similar to that, the underlying sentiment suggests a price breakout and bullish continuation in the coming days as indicated by the daily stochastic pointing upwards.

It is expected that buyers to push the price of SOLUSD further up to a significant level in the upsides and in this case, the target might be the $32.50 upper resistance level soon in the higher time frame.

SOL (USD) Medium-term Trend: Bullish (4H Chart)
In the medium-term time frame, prices of SOLUSD are above the moving averages and have confirmed a price breakout and bullish continuation breaking the previous high. The pair is in a smooth uptrend as can be seen from the chart below.
Solana (SOLUSD) Price Breakout and Bullish Continuation
The sustained bullish pressure pushed the currency pair up to the $23.78 supply level during the past session and sustained it. This has made it possible for the coin to remain firm in an uptrend in its recent high.

The coin price rises significantly above the resistance trend lines at the $24.01 level as the 4-hour chart begins today. This is due to a high bullish impact on the market price.

Hence, SOLUSD is showing more upside possibility as indicated by the daily stochastic which is pointing in an upward direction. We can certainly expect more price breakouts and bullish continuation from the coin as the bulls continue to dictate the market conditions.
The pair may likely reach the $32.50 resistance level soon in its medium-term perspective.

Buy Solana on eToro

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

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 →
Previous Post: « Quant (QNTUSD) Price Is Anticipating Further Jumps
Next Post: Tamadoge (TAMA/USD) Price Bounces, Keeping Above $0.0075 »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!

Your capital is at risk.

X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Copyright © Forex School Online Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US