Prime XBT App
Prime XBT App
Download and Trade Now!

Daily Technical Analysis Research 31.10.2024 – Cryptocurrency (SOLANA)

SOLANA (SOL/USD):

Solana has experienced significant gains over the past few days. As shown below, it broke through and respected the internal resistance level precisely before climbing higher toward the $180.00 range.

Daily Technical Analysis Research 31.10.2024 - Cryptocurrency (SOLANA) - Screenshot 2024 10 31 at 14.15.27 1024x618
Looking more closely at the technicals, we see an internal resistance zone around $185.00. If the price continues to rise, this will likely be the next key level to watch for price movement. Should we break through this zone decisively, I’ll then look to see how the price interacts with the external resistance area, which aligns with the highs reached earlier this year.

Daily Technical Analysis Research 31.10.2024 - Cryptocurrency (SOLANA) - Screenshot 2024 10 31 at 14.15.40 1024x623

Author

Matthew Hayward
Matthew is a well-experienced Market Analyst with a key focus on both Fundamental and Technical Analysis. He has experience in covering various market topics including Cryptocurrency, Foreign Exchange, Indices, and Commodities. He looks to provide we...
Read author’s articles
Alert Triangle Risk Disclaimer
Disclaimer: The information provided does not constitute, in any way, a solicitation or inducement to buy or sell any of our products.
Any material presented under this section of our website is not intended and should not be considered investment research or investment advice. Any Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. The recipient acknowledges that he/she is solely responsible for any trading decisions taken.
Risk warning: Our products are complex financial instruments which come with a high risk of losing money rapidly due to leverage. These products are not suitable for all investors. You should consider whether you understand how leveraged products work and whether you can afford to take the inherently high risk of losing your money. If you do not understand the risks involved, or if you have any questions regarding our products, you should seek independent financial and/or legal advice if necessary. Past performance of a financial product does not prejudge in any way their future performance.

Ready to put your insights into action?

Receive the latest news and stay informed.

Start Trading Start Trading
Start Trading

Got questions? Visit our Help Centre

Risk Warning:
Trading in leveraged products carries a high level of risk and may not be suitable for all investors.