{"id":419022,"date":"2023-07-14T14:04:33","date_gmt":"2023-07-14T14:04:33","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=419022"},"modified":"2023-07-14T14:04:33","modified_gmt":"2023-07-14T14:04:33","slug":"solana-coin-rides-the-ripple-ruling-wave-with-33-surge-30-coming-today","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-coin-rides-the-ripple-ruling-wave-with-33-surge-30-coming-today","title":{"rendered":"Solana Price Rides Ripple Ruling Wave With 26% Surge. Is $30 Coming Today?\u00a0"},"content":{"rendered":"

Solana (SOL) surged 28% in the past 24 hours, buoyed by Ripple’s landmark legal win against the Securities and Exchange Commission. Can it break through $30?<\/p>\n

Solana’s upward trajectory began around June 14, the day before the world’s biggest money manager, BlackRock, filed an application to launch a spot bitcoin ETF. It’s risen 32% in seven days and 81% in the past month. <\/span><\/p>\n

As of 10:00 EST, <\/span>SOL trades<\/span><\/a> at $27.86, edging closer to the $30 level. Its <\/span>current market cap stands at over $11 billion, an increase of almost 26% in 24 hours. The trading volume is also up by over 370%, standing at $2 billion. <\/span><\/p>\n

Solana’s Bullish Momentum Will Likely Continue<\/h3>\n
\"Solana
Source: Tradingview.com<\/figcaption><\/figure>\n

Looking at the daily chart above, it is clear that the bulls are dominating the market. <\/span>Solana is trading above the 50-day and 200-day Simple Moving Averages, strongly suggesting a bullish trend in the short and long term.<\/span><\/p>\n

Also, the asset shows a bullish momentum in the Moving Average Convergence Divergence (MACD), trading above the signal line. <\/span>The faded green histogram bars before the bold green bars suggest the assets lost their bullish momentum briefly but have regained it again. <\/span><\/p>\n

Another bullish indicator is Solana’s Relative Strength Index (RSI), which is at 83.01, already in the overbought region. <\/span>This position calls for caution as it suggests the asset is already overpriced and might soon record a downward trend reversal. <\/span><\/p>\n

Solana Support and Resistance Levels<\/h3>\n
\"Solana
Source: Tradingview.com<\/figcaption><\/figure>\n

SOL’s resistance level is $30.02, while the support levels are $25.40 and $21.31. <\/span>If the buying pressure continues as the indicators suggest, Solana will likely hit the resistance level today since it is already close to it. <\/span><\/p>\n

But since the asset is already in the overbought region, a trend reversal may push Solana to the first support level of $25.40. <\/span>The fear from the reversal could trigger a selling spree pushing SOL further down to the first support level of $21.31. <\/span><\/p>\n

Solana: Important Factors That Could Drive Its Price<\/h2>\n

The latest event in the crypto industry is the summary judgment in the SEC’s case against Ripple, which gave the company a partial win. <\/span><\/p>\n

Judge Analisa Torres ruled that Ripple’s native coin XRP is not a security. After the hearing, XRP’s price skyrocketed within a few hours. <\/span><\/p>\n

The ruling may boost SOL’s bullish momentum as it bolsters its <\/span>defence against the US SEC, which also called it a security. <\/span><\/p>\n

If this becomes the outcome, SOL’s price could continue its upward trajectory in the short and long term. <\/span>Meanwhile, while that stands, investors looking for short-term potential gains could consider some coins on presale, such as Chimpzee.<\/span><\/p>\n

Chimpzee Stands as a Great Solana Alternative<\/h2>\n

Chimpzee<\/a> is a revolutionary ecosystem that empowers users to save their environment and animals while earning rewards. <\/span><\/p>\n

The project is gaining more influence with its outstanding features. Also, users are interested in fighting climate change and generating passive income while helping animals.<\/span><\/p>\n

Features of Chimpzee<\/h3>\n

Chimpzee consists of outstanding features, which include the Chimpzee shop, the NFT Marketplace, and the Zero Tolerance Game, developed to make their vision a reality.<\/span><\/p>\n

Each of these features is integrated with the others.<\/span>
\n<\/b><\/p>\n

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  • The Chimpzee shop<\/b><\/li>\n<\/ul>\n

    The Chimpzee shop acts as the ecosystem’s main point of exchange for goods and services. It allows users to purchase numerous special products and commodities CHMPZ tokens.<\/span><\/p>\n

      \n
    • The NFT marketplace<\/b><\/li>\n<\/ul>\n

      The NFT marketplace offers part of the trading fee revenues to network members actively trading. A higher portion of the earnings pool will go to NFT Passport holders.<\/span><\/p>\n

        \n
      • Zero Tolerance Game<\/b><\/li>\n<\/ul>\n

        Players can win CHMPZ coins through the Zero Tolerance Game by meeting several predetermined milestones.<\/span><\/p>\n

        Chimpzee Presale<\/h3>\n

        The Chimpzee presale is live and in stage 7. It has raised $841,770 as of the time of writing, a selling price of $0.0007, reaching its presale benchmark of $1,144,500.<\/span><\/p>\n

        Notably, Chimpzee offers early investors a 125% free bonus CHPMZ coin.<\/span><\/p>\n