Solana (SOL) Rockets Over 10%

Krutika Adani

Solana Breaks Crucial Resistance

SOL’s price has managed to break the resistance in the $141 to $146 range.

Despite Bearish Markets

The move has resulted in a price breakout towards bullish levels despite a bearish market.

Decouples from Bitcoin

Surprisingly, Solana, which had a beta correlation of 0.7 with Bitcoin, has now moved in the opposite direction.

Reasons for Rally

Internal factors such as network growth, high user activity, a bullish memecoin market and the perception of being oversold have led to Solana’s rally.

Prices to Watch

As Solana crosses $147, the next level to watch for is $176, after which the price might attempt to cross $200.