logo

Solana price analysis: SOL/USD targets $250

Solana price analysis

TL; DR Breakdown

  • SOL/USD was trading in a bearish momentum on yesterday’s Solana price analysis chart.
  • Most of the digital assets have had a bad week as most coins have recorded huge price dips.
  • In the last 24 hours, SOL/USD has been trading in a positive trend.

Solana price analysis: General price overview

SOL/USD was trading in a bearish momentum on yesterday’s Solana price analysis chart. The bearish trend continued to today’s price analysis chart.

The bulls, however, created solid support at $199.1. The strong support formed the basis of a sharp SOL/USD price surge. The coin went up, forming several flag trends to the intraday highs of $215, where it faced resistance. The sellers’ resistance made the price drop by a few dollars; however, the bulls drove the prices upward again.

The Bollinger Bands on the 5-day EOS price analysis chart are relatively narrow, implying minimal fluctuation in the cryptocurrency. Since the upper band of Bollinger EOS/USD is close to being crossed, the currency is displaying a minor bullish trend.

Most of the digital assets have had a bad week as most coins have recorded huge price dips.

Solana price analysis: SOL/USD targets $250 1

Source: Coin360

Bitcoin managed to trade a few dollars above $50K; however, this surge was followed by a severe price drop. The giant asset is now trading at $46.02K. ETH is trading positively despite falling from $3.9K to $3.4. Solan trades in a very positive momentum recording more than 20 percent gains in the last 24 hours.

Solana price movement in the last 24 hours: SOL/USD bull run

In the last 24 hours, SOL/USD has been trading in a positive trend. The Bollinger bands are wide on the 24 hours price chart, indicating that several activities are going on. On the four-hour price analysis chart, the SOL/USD is trading in the range of $187-$215.

Solana is ranked number 6 in the overall cryptocurrency market, with a market capitalization of $61.1 billion. In addition, it has a market dominance of 2.92 percent.

SOL/USD 4- hour price analysis chart: 

The number of red and green bars on the four price analysis chart is almost the same, meaning the sellers and buyers have almost the same strength. The BoP indicator is at the middle point meaning the bears and the bulls have almost equal strengths.

Solana price analysis
Source: Tradingview

The MACD line has crossed below the red signal line, suggesting that the market might soon trend negatively. The bulls are trying to push the MACD line over the red signal line.

Solana price analysis: Conclusion

Most of the technical indicators are in favor of the bull trend. After attaining the 200 targets, Solana is expected to continue surging. SOL/USD now aims to hit $250 during the week. In the next 24 hours, it is expected to be trading above $220.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

[wp-faq-schema title="FAQs" accordion=1]
Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Related News

Hot Stories

NiceHash Launches First Solo Mining Hashpower Exchange Service to Help Struggling Crypto Miners
Dogecoin price analysis: DOGE sets double top at $0.067, looks to retrace further?
Polkadot price analysis: DOT price levels rejoin $6.39 high as bullish trend resumes
Dogecoin Price Prediction 2022-2031: DOGE to the Moon?
US Job openings fall by 6.2% - What does this mean for the crypto market?

Follow Us

Industry News

NiceHash Launches First Solo Mining Hashpower Exchange Service to Help Struggling Crypto Miners
US Job openings fall by 6.2% - What does this mean for the crypto market?
Here are all the Three Arrows Capital NFT collection details on the verge of liquidation
Did authorities freeze Do Kwon's assets?
Crypto Exchange OKX blacklisted in Russia due to unclear grounds