Will Solana (SOL) Hit a Good Spike Following the Market Rekt?

• All the major coins including SOL surged in intraday trading. 
• SOL signaled a boom after the past day’s rekt.   
• SOL hovers at $31.5, at press time.

Solana (SOL) exchanged a slight surge in intraday trading, with a high price of $31.9. The coin could look for a further rally if its current green candle touches the $32.3 resistance zone. This is also the nearest zone for SOL to look ahead for another resistance level of $34.08. 

At the moment, SOL is trading at $31.5, with an 11.37% hike in the past 24 hours. 

As evident from the 4-hour trading chart, bulls have performed their role during 01:00-04:00 UTC, making the coin hike. However, SOL also signaled some red descending candles in the 4-hour chart. 

Adding on, the 1-day trading chart for SOL determines a possible surge as it broke the $27.9 support level. Also, this is the expected reason for a good surge at the moment. However, the symmetrical triangle for the altcoin suggests a decline, which cannot be finalized based on price indicators alone. Several global economic factors such as the upcoming Consumer Price Index would also add to the array of price fluctuation. 

Moreover, the EMA-21 line is a major indicator. If the current green candle touches the line, a possible surge or dip can be expected due to turbulence. 

Notably, BTC (5.29%), ETH (7.64%), ADA (2.52%), and XRP (5.26%) have also fueled up in the past 24 hours.  

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