The solana (SOL) price has shown remarkable resilience in recent weeks, posting gains of over 73% in the last 30 days. This bullish momentum comes even as the broader crypto market reels from the fallout of FTX’s shocking bankruptcy.
SOL reached a new yearly high of $46.90 on November 1st before pulling back slightly. It had previously broken out above the crucial resistance zone around $28 in late September. This breakout was foreshadowed by SOL surpassing a long-term descending trendline in July, which has since flipped to support and confirmed the upside move.
Keypoints
- Solana (SOL) price reached a new yearly high of $46.90 on November 1, though it failed to close above the $47 resistance level. It is currently attempting to move above this level again.
- SOL saw a significant breakthrough in July when it surpassed a long-term descending resistance trendline. This trendline has since acted as support, confirming the…
