Solana Bullish, but Bearish Trendline on Daily Chart Keeps Buyers Out

Solana Just Jumped 19%, Looking Bullish

Posted Friday, September 3, 2021 by
Timothy St. John • 2 min read

Solana continues to climb week after week, today hitting $138.43 (SOL1/USD). It has been climbing all morning, seeing an increase of 18.89% as of this writing. It’s expected to go even higher than that, even though the crypto has already reached its all-time high.

SOL/USD

Solana has continued to break its own records over the last few weeks, shooting past the $120 resistance level as well as the $130 level. Now it is aiming for $140, and we expect it to go much further with this bullish trend it is on.

Solana’s Remarkable Growth

Early in August, Solana saw a relatively slow movement, but by the middle of August it was tracking bullish, and it hasn’t slowed down much since. There was an opportunity for interested investors to get on board earlier this week, as the crypto dropped a little bit but didn’t stay down for long. now, those new investors are seeing incredible gains as Solana continues to break records.

Solano wasn’t looking very good a couple of months ago either, dipping below the $40 level and even testing the $20 level at some points. Anyone who invested back then, throughout June and July, and held onto their investment, is seeing incredible returns. The rapid rise of Solana throughout August and now continuing through September shows incredible promise.

In August alone, Solana’s value quadrupled, and that fantastic growth has increased its visibility, causing the bulls to take ahold of it and get a lot of momentum out of it so far. The concern now is that Solana might slow down at any moment. After all, it has only been on the market for about a year and a half and is already the 7th largest cryptocurrency. That sort of impressive growth is unheard of and can cause many investors to fear that it could be a bubble that may burst at any moment.

Solana provides DeFi (decentralized finance) solutions and continues to challenge the Ethereum market share. We’ll just have to wait and see how far it will go.

 

 

 

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