Solana price analysis: SOL/USD pair set to break above the daily resistance found at $124.61

Solana price analysis

TL;DR Breakdown

  • Solana price analysis is bullish
  • SOL prices are facing resistance at $124.61
  • support is found at 119.

The immediate support is around $119.50, with resistance at $124.61. Solana’s prices have been trading above $120 for the past several days and are expected to rise even higher in the next 24 hours. Because of the 9.28 percent appreciation in price, Solana’s values currently account for 1.85 of the overall market cap.

Solana’s prices are bullish and are expected to rise even further in the next 24 hours. The immediate resistance is at $124.61, while the support is located at $119.50. The value of SOL has increased by 9.28 percent over the past few days and accounts for 1.85 percent of the market cap.

Solana price action in a 1-day price chart: SOL prices break the previous resistance of $120

The 1-day price chart for SOL shows that the cryptocurrency has been experiencing a bullish trend since the beginning of 2019. The prices first rose to around $120 on January 3, 2019, before breaking the resistance and reaching a high of $127.10 on January 7. SOL is currently facing resistance at $124.61 and is expected to break it in the next 24 hours. The immediate support is at $119.50, followed by $114.40.

Solana price analysis: SOL prices soar to $122.36, ready to break higher 2SOL/USD 1-day price chart, source: TradingView

The MACD indicator is in the bullish zone and shows that SOL is experiencing a positive momentum. The RSI is at around 63, which also indicates that there is still some room for the prices to grow. The volume has been gradually increasing over the past few days, which is a bullish sign.

SOL price analysis is bullish and the prices are expected to break the resistance at $124.61 in the next 24 hours. The immediate support is at $119.50, while the long-term support is located at $114.40. The market cap for SOL currently stands at $236,954,872 and the value has increased by 9.28 percent over the past few days.

Solana price analysis on a 4-hour price chart: Recent developments and further technical indications

The 4-hour Solana price chart shows that the prices have been facing resistance at $124.61 for the past few hours. SOL has been trading above $120 for the past few days and is expected to break the resistance soon. The MACD indicator is in the bullish zone and shows positive momentum. The RSI is at around 67, which indicates that there is still some room for the prices to grow. The volume has been gradually increasing over the past few hours, which is a bullish sign.

The Bollinger Bands indicate that the volatility for SOL is high and the prices are expected to rise or fall soon. The prices are expected to reach the immediate resistance at $124.61 in the next few hours and break it soon. The long-term resistance is at $134.00, while the support is at $119.50.

Solana price analysis shows that the prices are bullish and are expected to break the resistance at $124.61 in the next few hours. The immediate support is at $119.50, while the long-term support is located at $114.40. The market cap for SOL currently stands at $236,954,872 and the value has increased by 9.28 percent over the past few days.Solana price analysis: SOL prices soar to $122.36, ready to break higher 3

SOL/USD 4-hour price chart, source: TradingViewThe RSI indicatorOL has been experiencing a positive momentum as indicated by the RSI indicator, which is currently at 67. The RSI is usually considered to be overbought when it reaches 70 and oversold when it reaches 30. This suggests that the prices could continue rising in the next few hours.

Solana price analysis conclusion

Solana is experiencing a positive momentum as indicated by the RSI indicator, which is currently at 67. The RSI is usually considered to be overbought when it reaches 70 and oversold when it reaches 30. This suggests that the prices could continue rising in the next few hours.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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