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Bitcoin Price Soars to New All-Time High of $75,000 Amid Trump’s Vision for Crypto Capital

On November 7th, COINOTAG News reported significant developments in the cryptocurrency market. The price of Bitcoin, the leading digital asset by market capitalization, surged to a historic peak of $75,000 Bitcoin.com

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Solana (SOL) Rallies Strongly, Setting Sights on $200

Solana started a fresh increase above the $172 support zone. SOL price is rising and might soon aim for a move toward the $200 level. SOL price started a fresh increase after it settled above the $165 level against the US Dollar. The price is now trading above $172 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could continue to rise if it clears the $192 resistance zone. Solana Price Starts Fresh Rally Solana price formed a support base and started a fresh increase above the $162 level like Bitcoin and Ethereum. There was a strong move above the $165 and $172 resistance levels. There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair. The price even cleared the $185 level. A high is formed at $192 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $155 swing low to the $192 high. Solana is now trading above $172 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $192 level. The next major resistance is near the $195 level. The main resistance could be $200. A successful close above the $200 resistance level could set the pace for another steady increase. The next key resistance is $212. Any more gains might send the price toward the $220 level. Another Dip in SOL? If SOL fails to rise above the $192 resistance, it could start a downside correction. Initial support on the downside is near the $188 level. The first major support is near the $180 level. A break below the $180 level might send the price toward the $172 zone or the 50% Fib retracement level of the upward move from the $155 swing low to the $192 high. If there is a close below the $172 support, the price could decline toward the $165 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $188 and $185. Major Resistance Levels – $192 and $200. Bitcoin.com