{"id":116735,"date":"2024-10-21T15:46:45","date_gmt":"2024-10-21T08:46:45","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=116735"},"modified":"2024-10-21T15:46:45","modified_gmt":"2024-10-21T08:46:45","slug":"are-bulls-back-solana-sol-target-set-for-november-2024","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=116735","title":{"rendered":"Are bulls back? Solana (SOL) target set for November 2024"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Following the breakout from the H&amp;S pattern, there is a strong possibility SOL could reach $190 before November 2024.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">SOL\u2019s open interest jumped by 18%, suggesting the buildup of new positions amid the recent breakout.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/category\/solana-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana [SOL]<\/a>, the world\u2019s fifth biggest cryptocurrency, turned bullish following the breakout of a bullish price action pattern. This breakout has not only shifted sentiment among investors and traders, but also raised hopes that SOL could soon skyrocket in the coming days.<\/span><\/p>\n<h2><b>Solana technical analysis and key level<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to AMBCrypto\u2019s technical analysis, SOL recently broke out from a bullish inverted Head-and-Shoulder pattern on the daily time frame. Based on historical data, whenever an asset breaks out from this H&amp;S pattern, it tends to skyrocket significantly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This time, SOL has experienced a bullish breakout over a longer period and is aiming for a higher rally in the coming days.<\/span><\/p>\n<div id=\"attachment_434985\" style=\"width: 1824px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434985\" class=\"wp-image-434985 size-full\" alt=\"Solana (SOL) technical analysis\" width=\"1814\" height=\"749\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987.png 1814w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-300x124.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-1024x423.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-768x317.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-1536x634.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-1200x495.png 1200w\" data-lazy-sizes=\"(max-width: 1814px) 100vw, 1814px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434985\" class=\"wp-image-434985 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987.png\" alt=\"Solana (SOL) technical analysis\" width=\"1814\" height=\"749\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987.png 1814w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-300x124.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-1024x423.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-768x317.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-1536x634.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/SOLUSDT_2024-10-20_15-37-15-e1729418902987-1200x495.png 1200w\" sizes=\"auto, (max-width: 1814px) 100vw, 1814px\"\/><\/a><\/p>\n<p id=\"caption-attachment-434985\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<h2><b>Solana\u2019s prediction for November 2024<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Despite this bullish outlook, SOL\u2019s rally may not be straightforward. Few resistance levels could pose hurdles to the asset\u2019s upward momentum. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If SOL closes a daily candle above the $161 level, there is a strong possibility it could soar by 18%, reaching the next resistance level of $190 in the coming days.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, given the current market sentiment, it appears that SOL could achieve this level before November 2024.\u00a0<\/span><\/p>\n<h2><b>SOL\u2019s bullish on-chain metrics\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">On-chain metrics further support SOL\u2019s positive outlook. According to the on-chain analytics firm Coinglass, the major liquidation levels are currently at $156.6 on the lower side and $162.5 on the upper side, with traders over-leveraged at these levels.<\/span><\/p>\n<div id=\"attachment_434986\" style=\"width: 1473px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434986\" class=\"wp-image-434986 size-full\" alt=\" major liquidation levels\" width=\"1463\" height=\"597\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd.png 1463w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd-300x122.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd-1024x418.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd-768x313.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd-1200x490.png 1200w\" data-lazy-sizes=\"(max-width: 1463px) 100vw, 1463px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434986\" class=\"wp-image-434986 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd.png\" alt=\" major liquidation levels\" width=\"1463\" height=\"597\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd.png 1463w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd-300x122.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd-1024x418.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd-768x313.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/njdndncmd-1200x490.png 1200w\" sizes=\"auto, (max-width: 1463px) 100vw, 1463px\"\/><\/a><\/p>\n<p id=\"caption-attachment-434986\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">According to the data, short sellers have placed bets worth over $14.46 million on the $162.5 level, believing that SOL\u2019s price won\u2019t surpass it. Bulls, on the other hand, have placed bets worth $36.24 million on the $156.6 level, believing that the asset\u2019s price won\u2019t fall below it.<\/span><\/p>\n<h2><b>Rising open interest\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As of now, SOL\u2019s open interest has risen significantly, indicating strong interest from traders following the breakout. In the past 24 hours, its value has increased by 17.8%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This notable rise in open interest suggests the buildup of new positions during this period. Additionally, it marks the highest level since the beginning of October 2024.<\/span><\/p>\n<div id=\"attachment_434989\" style=\"width: 1733px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434989\" class=\"wp-image-434989 size-full\" alt=\"SOL\u2019s open interest\" width=\"1723\" height=\"607\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13.png 1723w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-300x106.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-1024x361.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-768x271.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-1536x541.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-1200x423.png 1200w\" data-lazy-sizes=\"(max-width: 1723px) 100vw, 1723px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-434989\" class=\"wp-image-434989 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13.png\" alt=\"SOL\u2019s open interest\" width=\"1723\" height=\"607\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13.png 1723w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-300x106.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-1024x361.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-768x271.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-1536x541.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/image-13-1200x423.png 1200w\" sizes=\"auto, (max-width: 1723px) 100vw, 1723px\"\/><\/a><\/p>\n<p id=\"caption-attachment-434989\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">In fact, SOL\u2019s long\/short ratio stood at 1.11 at press time, indicating strong bullish sentiment among the traders.\u00a0<\/span><\/p>\n<h2><b>Market sentiment among traders\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Combining all these on-chain metrics with technical analysis, it appears that bulls are currently dominating the asset. This could support SOL and help it reach the $190 level in the coming days.<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the\u00a0<a href=\"https:\/\/ambcrypto.com\/calculator\/profit\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">SOL Profit Calculator<\/a><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">This bullish outlook is further supported by the upcoming presidential election in the United States. Historical data shows that October often brings bullish trends in the cryptocurrency market, especially leading up to major events like elections. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This could further maintain Solana\u2019s upward momentum.<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"previous-blog\">\nPrevious: <a href=\"https:\/\/ambcrypto.com\/dydx-crypto-soars-38-in-24-hours-key-metrics-point-towards-2-target\/\" rel=\"next\" data-wpel-link=\"internal\">dYdX crypto soars 38% in 24 hours: Key metrics point towards $2 target<\/a> <\/div>\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/can-ldo-break-past-the-1-33-resistance-amid-key-developments\/\" rel=\"prev\" data-wpel-link=\"internal\">Can LDO break past the $1.33 resistance amid key developments?<\/a> <\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/solanas-next-move-how-high-can-sol-go-after-its-latest-surge\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the breakout from the H&amp;S pattern, there is a strong possibility SOL could reach $190 before November 2024. SOL\u2019s open interest jumped by 18%, suggesting the buildup of new &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=116735\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-116735","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/116735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=116735"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/116735\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=116735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=116735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=116735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}