{"id":419643,"date":"2023-07-17T11:16:20","date_gmt":"2023-07-17T11:16:20","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=419643"},"modified":"2023-07-17T11:16:20","modified_gmt":"2023-07-17T11:16:20","slug":"solana-coin-holds-its-last-week-gains-sol-one-to-watch-this-week","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-coin-holds-its-last-week-gains-sol-one-to-watch-this-week","title":{"rendered":"Solana Coin Holds Its Last Week Gains. SOL One to Watch This Week?"},"content":{"rendered":"

Over the past month, Solana (SOL) has experienced a steady price increase, with gains of 81.8%. <\/span><\/p>\n

After reaching a resistance level at $32, the price retraced slightly but recovered swiftly, holding most of the gains achieved in the previous week and ending the week with a 31.8% increase. So should investors watch out for SOL this week? <\/span><\/p>\n

As of 12:30 a.m. EST, <\/span>SOL is trading at $27.97<\/span><\/a>, reflecting a 2.9% increase over the past 24 hours and $706 million in trading volume. The start of the week on Monday showed promising signs for Solana, with a bullish candle forming on the daily chart, suggesting the possibility of a significant upward surge in its price movement.<\/span><\/p>\n

\"Solana<\/p>\n

On June 14, Solana experienced a surge from its bottom of 14.07, pushing its price to a local high of $22.53. This substantial increase supported the bulls and propelled the price even further to $32.62, a 44.74% gain.<\/span><\/p>\n

Solana Price Bullish, Eyeing Breakout Towards $39.23 Resistance<\/span><\/h2>\n

\"Solana<\/p>\n

Solana’s price has been in a prolonged consolidation phase since January. However, June 4 saw the SOL price rebound from its bottom support of $14.07, breaking above a crucial resistance level of $22.56. <\/span><\/p>\n

Although there was a slight retracement, it became a catapult for further growth, causing the price to break through the upper trendline of the consolidation phase and resistance level at $26.82.<\/span><\/p>\n

The technical indicators, including the moving averages and the Relative Strength Index (14), align to indicate a strong bullish sentiment in the market. The rebound at the support level of $14.07 has seen the price trading above the 50-day EMA and 200-day EMA, indicating a foothold in the price of SOL by buyers. <\/span><\/p>\n

Additionally, the 50-day moving average shows the potential to cross above the 200-day moving average, which could provide further momentum for the bulls to drive prices higher.<\/span><\/p>\n

Moving average potential crossovers and a bullish pennant formation present a compelling argument for a near-term upward price trend in SOL. Additionally, it’s worth noting that the relative strength index (RSI) is currently trading in the overbought region, specifically at a high level of 82. <\/span><\/p>\n

While this could potentially lead to a slight retracement towards the 70 level, it is unlikely to hinder the overall bullish momentum driving the SOL price, potentially leading to a breakout toward the resistance level at $39.23. <\/span><\/p>\n

Investors can also look to the Chimpzee token, the next cryptocurrency project to explode with successful presale stages and a low price with great returns.<\/span><\/p>\n

Chimpzee, The Next Crypto to Explode <\/span><\/h2>\n

Chimpzee<\/span><\/a> stands out as one of the most promising crypto projects in today’s market, positioning itself as the next cryptocurrency set to make a significant impact. <\/span><\/p>\n

By aiming to raise funds for a robust launch through presale initiatives, Chimpzee offers early investors and traders the opportunity to be part of its growth. Chimpzee has raised nearly $1 million in funding at its seventh stage.<\/span><\/p>\n

The disruptive crypto platform Chimpzee empowers its users and supporters to earn a passive income while actively contributing to the preservation of animals and the fight against climate change.<\/span><\/p>\n

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Join us now! ⬇️🌟https:\/\/t.co\/Geog3EVuMC<\/a>#EcoCrypto<\/a> #GreenCrypto<\/a> #CryptoCommunity<\/a> pic.twitter.com\/0bK8fi3n9L<\/a><\/p>\n

— Official Chimpzee Project (@RealChimpzee) July 17, 2023<\/a><\/p><\/blockquote>\n