Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Solana (SOL) resumes its bullish trajectory

Solana (SOL) resumes its bullish trajectory

CryptodailyCryptodaily2023/12/15 12:46
By:Laurie Dunn

Table of Contents

  • A strong recovery
  • A micro breakout?
  • A year long accumulation
  • Strong resistance reached

The layer 1 blockchain that looks to be the biggest rival to ethereum has resumed its bullish rise. Next stop: $100?

A strong recovery

After a bottom and sideways accumulation that lasted through May 2022 and into mid-October of 2023, Solana has denied the doubters and barring a couple of pullbacks, has been on an upward trajectory ever since. 

The first major breakout took $SOL from a lowly $20 to a local high of $68 in a period of only two months. The next surge carried $SOL to $78, and this has recently been surpassed after an 18% pullback, to put $SOL at a new local high of $78.50 at time of going to press.

A micro breakout?

Solana (SOL) resumes its bullish trajectory image 0

Source: Trading View

Looking at the very short term hourly time frame, $SOL is in a rising channel. Some resistance could happen as the price rises to the top again, but a breakout could also happen, which would be extremely bullish.

A year long accumulation

Solana (SOL) resumes its bullish trajectory image 1

Source: Trading View

On the medium term time frame of the daily it can be seen just how long $SOL was being accumulated (around 1 year). The definitive breakout on 1 November led to the strong surge that $SOL is still experiencing.

Strong resistance reached

Solana (SOL) resumes its bullish trajectory image 2

Source: Trading View

On the long term weekly time frame it should be noted that $SOL has come up against a strong resistance level. A break here could lead to the next stage of $SOL’s price growth. Other higher resistance levels can be found at $94, $114, $136, $148, and $173. The all-time-high is at $260.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Ethereum News Today: BitMine's Ethereum Play Reshapes Crypto's Power Balance

- Cathie Wood’s Ark Invest and Tom Lee’s BitMine Immersion (BMNR) maintain strong Ethereum (ETH) treasury holdings, exceeding 1.71 million ETH ($8.8B), despite crypto market declines. - BitMine’s strategic ETH accumulation, backed by institutional investors like Peter Thiel and Bill Miller, drives capital reallocation from Bitcoin to Ethereum, boosting ETH’s market share to 14.4%. - BMNR’s stock liquidity ($2.8B daily volume, 20th in U.S.) and resilience during crypto downturns highlight investor confidenc

ainvest2025/08/28 05:00
Ethereum News Today: BitMine's Ethereum Play Reshapes Crypto's Power Balance

SHIB’s Plunge Exposed: What’s Behind Meme Coin’s Bleeding Edge

- Shiba Inu (SHIB) fell to a multi-month low in August 2025, dropping 11.7% monthly amid high interest rates, reduced whale activity, and lower network engagement. - Whale holders (62% of SHIB supply) and halved token holding times indicate bearish pressure, with a $7.3B market cap trailing Dogecoin's $32.6B valuation. - Potential recovery catalysts include Shibarium's Layer 2 blockchain, metaverse land projects, and anticipated Fed rate cuts in 2025 to boost speculative demand. - Despite deflationary burn

ainvest2025/08/28 05:00
SHIB’s Plunge Exposed: What’s Behind Meme Coin’s Bleeding Edge

Cold Wallet (CWT) vs. Tron, Toncoin, and Cardano: The 2025 Crypto Breakout Race

- Cold Wallet (CWT) challenges Tron, Toncoin, and Cardano with a 3,400% ROI presale model and cashback-driven utility. - Tron faces regulatory risks and limited utility, while Toncoin's high valuation and Cardano's slow adoption hinder growth. - CWT's user-centric incentives and structured tokenomics create a self-sustaining ecosystem, redefining crypto value creation in 2025. - Investors weigh CWT's asymmetric risk-reward against traditional projects' speculative or institutional-driven strategies.

ainvest2025/08/28 04:57
Cold Wallet (CWT) vs. Tron, Toncoin, and Cardano: The 2025 Crypto Breakout Race

XRP's Post-SEC Legal Clarity: A Catalyst for 5-Year Growth in Payments and Institutional Demand

- SEC's 2025 ruling classified XRP as a commodity, resolving a 5-year legal battle and enabling institutional adoption. - Ripple's escrowed supply model and ODL's $1.3T Q2 2025 remittances demonstrate XRP's utility in cross-border payments. - ProShares UXRP ETF's $1.2B debut and 93% profitable wallets signal strong institutional confidence in XRP's long-term value. - With 60+ global licenses and RLUSD integration, XRP is positioned to become a foundational asset in global financial infrastructure.

ainvest2025/08/28 04:57
XRP's Post-SEC Legal Clarity: A Catalyst for 5-Year Growth in Payments and Institutional Demand