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Solana (SOLUSD) has successfully broken through the $260 resistance level, signaling that the bulls are in control and attempting to assert dominance in the market. The price has surged by 5.09%, currently trading at $263.99.
The next minor resistance lies at $274, but this level is expected to be overcome by the bullish momentum. If the price rises above $274, the SOLUSDT pair could continue its ascent toward the next major resistance at $295. Although $295 may present a strong challenge, if it is surpassed, the next potential target could be $375.
On the downside, the 20-day exponential moving average (EMA) at $228 represents critical support. If Solana falls below this level and closes under the 20-day EMA, it would suggest that the bullish momentum has weakened. In such a scenario, the price could dip further to the 50-day simple moving average (SMA) at $211.
Trading Data (as of 12:34 PM, 24 January 2025 GMT-5):
- Solana (SOLUSD) Price: $263.99 (+5.09%)
- Market Cap: $128.444 Billion
- 24-Hour Volume: $8.91 Billion
- Circulating Supply: 486.55 Million SOL
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.