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Solana price analysis: SOL/USD expected to spike to $185 before midnight

TL; DR Breakdown

  • In the early hours of trading, Solana exhibited a bearish bias.
  • Most part of the cryptocurrency heat map is green, implying that customers exceed sellers.
  • SOL/USD is trading within a broad range of $172 – $180.

Solana price analysis: General price analysis

In the early hours of trading, Solana exhibited a bearish bias. The sellers seem to have outnumbered the buyers, causing SOL/USD price to set a downward trend to the intraday lows of $172.6. The bulls had created robust support at the intraday lows to support a bullish momentum that the buyers were intending. The upward momentum set the price to surge while forming several bullish patterns like head and shoulder trends.

SOL/USD is trading positively on today’s Solana price analysis. This follows after the coin established strong support at the intraday lowest, providing buoyancy to the rise. During yesterday’s session, SOL/USD underwent a bullish trend and then corrected to $172.6 support. We anticipate that SOL/USD will lose ground during the day and record some losses on the 24-hour chart in the coming days.

Most part of the cryptocurrency heat map is green, implying that customers exceed sellers. As a result, there is a surge in most cryptocurrencies.

Source: Coin360

The most significant digital asset is bullish, although it has seen a minor percentage increase from yesterday’s price. One Bitcoin (BTC) is currently valued at $45.2K. The second-largest digital asset is also trading in a moderately favourable direction, gaining 2 percent and being priced at $3.3 as of this writing. Things seem harsh for Solana as it trades in a negative trend. Most of the altcoins trade in bullish momentum. SOL/USD has recorded a price decline of 2 per cent making one SOL trade at $176.

Solana price movement in the last 24 hours: Solana advances towards $185

According to the daily Solana price analysis, SOL/USD is trading within a broad range of $172 – $180. The daily trading volume for the Layer 1 smart contracts solution token went down by 40 percent to a total of $4.5 billion. Meanwhile, Solana’s total market cap is 57 billion, making the coin ranked #7 in the overall market. 

Solan four-hour price analysis chart: possible surge

The price of Solana has been under significant selling pressure in recent weeks, to the point that it has emerged as the best-performing coin on multiple days. After Solana retreated below $80 near the end of August, the bulls followed an increase to $200 through September.

Source: Tradingview

The MACD line has crossed over the red signal line severally; this suggests that the buyers are powerful and anticipate a bullish trend.

Solan price analysis: Conclusion

Most technical indicators suggest that the market is picking bullish trends. We expect SOL/USD to spike to $185 before midnight. The day traders, investors should buy Solan and hold it until the price spikes to $185.

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.

This post was last modified on September 12, 2021 8:59 am

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.

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