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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...
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