bullish

Solana

Algorand

Resistance

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<p>Analyst Stockmoney Lizards has shared a technical analysis of <a href="https://captainaltcoin.com/analysts-predict-solana-sol-price-surge-analysis-points-to-325-500-range/" target="_blank" rel="noopener noreferrer nofollow">Solana’s price movement</a>, pointing to a key resistance level at $260. The analyst’s tweet suggests a bullish outlook for SOL, urging traders to maintain patience as the asset approaches this threshold.</p>
<h2 class="wp-block-heading" id="strong-market-recovery-and-price-action-strong"><strong>Market Recovery and Price Action</strong></h2>
<p>The Solana ecosystem has demonstrated resilience through its price action since early 2023. Stockmoney’s analysis based on Heikin Ashi candles reveals a steady upward trajectory, with SOL climbing above the $200 mark.&nbsp;</p>
<p>At the time of writing, <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL price trades at $239.01</a>. The token has increased by 0.55% in the last day with the volume at $3,676,665,137.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Solana</a> Blue sky ahaed. <br><br>Current resistance at 260USD. Be patient. <a href="https://t.co/axX0yP01tY" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/axX0yP01tY</a></p>— Stockmoney Lizards (@StockmoneyL) <a href="https://twitter.com/StockmoneyL/status/1862126696805056592?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 28, 2024</a>
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<p>The daily timeframe chart shows consistent green candles, marking a departure from the previous bearish phase that pushed prices down to $12. The price recovery gained momentum throughout 2023, establishing higher lows and higher highs.&nbsp;</p>
<p>Additionally, the chart pattern indicates strong buyer interest, with volume supporting the upward movement. Moreover, the data shows SOL maintaining its position above key support levels while testing upper resistance zones.</p>
<h2 class="wp-block-heading" id="strong-technical-outlook-and-trading-patterns-strong"><strong>Technical Outlook and Trading Patterns</strong></h2>
<p>Heikin Ashi candlestick analysis on the daily timeframe exhibits clear trend formations. The smooth price action characteristic of these candles helps traders identify the market direction with greater clarity.&nbsp;</p>
<p>A double-bottom pattern formed near $12 early in 2023 served as a launching pad for the current bull run. The price action shows several tests of the $260 resistance level.&nbsp;</p>
<p>Trading volumes have increased during these tests, suggesting active participation from market players. The chart structure indicates consolidation below this resistance zone, with buyers accumulating positions.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/why-is-algorand-algo-price-up/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Why Is Algorand (ALGO) Price Up?</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-historical-price-performance-strong"><strong>Historical Price Performance</strong></h2>
<p>SOL’s journey from late 2020 through mid-2021 marked its initial explosive rally, reaching the $260 level.&nbsp;</p>
<p>The subsequent correction phase lasted from mid-2021 to early 2023, during which prices retraced substantially. This period aligned with broader market conditions affecting the entire crypto sector.</p>
<p>The recovery phase has seen <a href="https://thecryptobasic.com/2024/11/29/top-analyst-says-solana-ready-for-new-ath/" target="_blank" rel="noopener noreferrer nofollow">SOL regain ground</a> lost during the downturn. Price data shows steady accumulation phases interspersed with sharp upward moves. The current market structure mirrors the build-up seen during previous bull cycles, with strong buying pressure evident in the candlestick patterns.</p>
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<p>The post <a href="https://captainaltcoin.com/solana-price-eyes-260-resistance-as-market-analyst-predicts-blue-skies/" rel="noopener noreferrer nofollow">Solana Price Eyes $260 Resistance as Market Analyst Predicts Blue Skies</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana Price Eyes $260 Resistance as Market Analyst Predicts Blue Skies

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