"Why the price is going up kaw kaw kot, whoever buys SOL must make a lot of money."
Cryptocurrency Solana (SOL) is climbing higher by the day as its price managed to reach $39 from $23 on October 19, 2023, so here are three things for investors to watch out for this week.
First, the price of SOL, which is able to break through its main resistance zone at $37, is predicted to reach a valuation never seen since the FTX crypto exchange faced a drastic fall that affected the entire digital asset market.
Also, if the resistance zone at $38 turns into support, then SOL is expected to be able to reach $40 or more, but it should be noted that the level could cause SOL to see a price correction again.
There is no denying that SOL is currently in a strong upward momentum, however investors may return to sell it at $38 and this means the price can pullback.
Please note that SOL needs to break two more key resistance levels to continue moving higher, so investors should keep a close eye on price action around $38 for any signs of weakness.
As of this writing, SOL price has surged by 10.09% to $38.47 in the last 24 hours with a market capitalization of $16 billion further recording a 27.71% increase over the last week.
