FxWirePro- SOLUSD surges more than 10% this week, good to buy on dips

Solana is a blockchain built for mass adoption. It's a high-performance network that is utilized for a range of use cases, including finance, payments, and gaming.

Features-

Transactions per second 65000

Block time- 0.40 seconds

Fees- 0.00064 SOL per transaction

Re-test level- $140

Recent News-

The report from VanEck_US  indicates that, according to third-party research, Solana has the potential to reach 50% of Ethereum Market cap.  Predictions suggest that Solana could achieve a price of USD 330.

Any daily close above $165 confirms further bullishness.

SOLUSD broke significant resistance $153 as Coinbase launches cbBTC.  The pair holds above the short-term (34 and 55 EMA) and long-term moving average (200- EMA) in the 4-hour chart. It hit a low of $140 and is currently trading around $153.

The bullish invalidation can happen if the pair closes below $110. On the lower side, the near-term support is $140. Any violation below target $127/$120/$110.

The pair's near-term resistance is around $165. Any breach above confirms minor bullishness. A jump to $175/$200 is possible. A surge past $210 will take it to $260.

It is good to buy on dips around $154 with SL around $139 for TP of $200.