Solana, Zcash, Chainlink Test Resistance as Crypto Rally Accelerates
In brief
- Solana trades at $119 with resistance at $120–$122.50; breakout targets $125–$130.
- Zcash surged from $500 to near $1,680, now consolidating around $1,585.
- Chainlink reached $14.20 in September, establishing rising highs and lows above major moving averages.
Solana Tests Resistance Above $120
Solana's recent daily candle extended a rally that started from the $75–$80 area in August, reaching roughly $122 before slightly declining. The momentum is clear: SOL broke above its 200-day moving average at about $90 and established a consolidation zone between about $97 and $107.
SOL trades above all major moving averages with the shortest average already close to $107. The RSI is currently in the mid-60s, providing room for another rise. On the upside, resistance is between $120 and $122.50, with a sustained breakout revealing $125 and then roughly $130. Support sits at $115 on the near term, with a more significant breakout zone between $110 and $112.
Zcash Surges Despite Resistance Rejections
Zcash was trading at about $500 in late August before surging through $800, $1,000, and $1,500 in September. That's a move worth watching. The most recent advance hit about $1,680 before sellers forced another correction, and ZEC has returned to about $1,585.
ZEC continues to generate higher highs and higher lows in spite of that rejection. The 200-day moving average is at $650, which is significantly lower than current price levels, underscoring the strength of the move. The primary resistance area is still $1,600–$1,680. After clearing it, the next immediate level would be $1,700, with the psychological $2,000 target coming next. Support is approximately $1,500, with $1,450 coming in second.
Chainlink Breaks Previous Peaks
Chainlink's September rally is still going strong; LINK reached about $14.20 before settling at about $13.82. In early August, the asset was trading near $8 before surpassing both its 200-day moving average and the $9.50 region.
LINK has established a distinct pattern of rising highs and rising lows, with buyers continuously drawn to corrections. The most recent breakout broke through the previous local peak, which was between $13.50 and $13.70. The advance has been accompanied by an increase in volume, and LINK is currently trading above all major moving averages. This setup—rising structure, volume confirmation, and moving average alignment—suggests the rally has legs.
