{"id":23778,"date":"2023-09-29T18:06:59","date_gmt":"2023-09-29T18:06:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bulls-need-to-strengthen-above-20\/"},"modified":"2023-09-29T18:06:59","modified_gmt":"2023-09-29T18:06:59","slug":"bulls-need-to-strengthen-above-20","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bulls-need-to-strengthen-above-20\/","title":{"rendered":"bulls need to strengthen above $20"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1696009827797-b722c415-6650-4603-b68a-3a260d3a5fe9-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1696009827797-b722c415-6650-4603-b68a-3a260d3a5fe9-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1696009827797-b722c415-6650-4603-b68a-3a260d3a5fe9-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/09\/1696009827797-b722c415-6650-4603-b68a-3a260d3a5fe9-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Solana (SOL) price traded to above $20.00, hitting $20.50 after bouncing off $18.40 earlier this month.<\/li>\n<li dir=\"ltr\">Can bulls take advantage of positive sentiment for Solana to break higher?<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/solana\/\">Solana price<\/a> has reached a key technical level, with the 24-hour upside to $20.50 retesting a 10-day high that\u2019s an area of a previous support and resistance. With nearly 4% increase in the past 24 hours, Solana is outperforming all the top ten cryptocurrencies by market cap except XRP.<\/p>\n<p dir=\"ltr\">Bitcoin is back below $27k after latest SEC delays of decisions on multiple spot ETF applications, including that of BlackRock. Ethereum, buoyed by news of listing of the Valkyrie ETH futures ETF to near $1,700, has bounced lower too even as whales position themselves for a likely upswing.<\/p>\n<p dir=\"ltr\">What\u2019s the outlook for Solana, an altcoin with a market cap of $8.3 billion?\u00a0<\/p>\n<h2 dir=\"ltr\">SOL price: what next for bulls?<\/h2>\n<p dir=\"ltr\">SOL price\u2019s uptick today comes as SOL bulls plot to stay above an ascending trendline support that\u2019s anchored at the December 2022 buffer zone around $9.60.<\/p>\n<p dir=\"ltr\">As can be seen on the daily chart below, Solana has bounced higher (not perfect) off the positive trendline. The price action follows this week\u2019s breakout from the downtrend line marked by the decline from July 2023 peak of $32.40.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 600px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/08\/29\/1696009418780-c886ccd7-ebfb-4cc5-a039-69916910083e.png\" style=\"width: 600px\" class=\"fr-fic fr-dib\" width=\"600\" height=\"260\"\/><span class=\"fr-inner\">Solana price outlook on the daily chart. Source:\u00a0<a href=\"https:\/\/www.tradingview.com\/x\/xvxZGi5B\/\" rel=\"noopener noreferrer\" target=\"_blank\">TradingView<\/a><\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">Earlier today crypto trader Bluntz <a href=\"https:\/\/twitter.com\/Bluntz_Capital\/status\/1707573843077001423\"><u>highlighted<\/u><\/a> the potential for an inverse Head &amp; Shoulder pattern. The pattern\u2019s neckline is $20.30 and the 50-day exponential moving average provides the immediate supply zone $20.22.\u00a0<\/p>\n<p class=\"fr-img-space-wrap2\">Holding at or above these levels is crucial to the bulls short term plans, an outlook supported by the daily Relative Strength Index (RSI) in an upsloping view above the neutral \u00a0mark.<\/p>\n<\/div>\n<p dir=\"ltr\">The flipside of the above scenario is Solana price breaking lower beyond the $18.80 demand zone. Increased sell-side liquidity in this area could push SOL to around $17.60. From here, bulls may rely on the likely support near $14.50.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/solana-sol-breaks-above-key-level-but-can-bulls-take-advantage\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Solana (SOL) price traded to above $20.00, hitting $20.50 after bouncing off $18.40 earlier this month. Can bulls take advantage of positive sentiment for Solana to break higher? Solana price has reached a key technical level, with the 24-hour upside to $20.50 retesting [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23778"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23778"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23779"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}