Solana price analysis: SOL receives a push above $13.79 as bullish momentum restores

Solana price analysis

TL;DR Breakdown

  • Solana price analysis is in favor of the bullish side
  • Resistance for SOL is present at $14.10
  • Support is present at $11.77

Today’s Solana price analysis shows signs of an uptrend, as the price underwent a significant increase in the last 24 hours. At the time of writing, SOL was trading at around $13.79 — an increase of 17% over a 24-hour period. The market has seen some significant bullish pressure today as the price has pushed above its resistance level of $14.10. This could signal further increases in the near future and indicate that investors are still optimistic about the future of Solana and its potential.

SOL/USD 1-day price chart: Bulls regain balance above $1.56 after revival

The 1-day Solana price analysis shows that the bulls are in control of this market and are pushing it higher. The current resistance level is $14.10, followed by a support level of $11.77. If the bulls manage to close above $14.10, then there could be further buying pressure which could push SOL to its next major resistance at $18.50. Meanwhile, the moving average indicator (MA) is displaying its value at $10.98, slightly below the price levels.

image 55
SOL/USD 1-day price chart. Source: TradingView

The RSI indicator is currently trading in the overbought territory at 39.91, which means that the price could see some profit booking soon. Nevertheless, the MACD indicator has just crossed above 0, which indicates a bullish crossover and further upside movements for SOL.

Solana price analysis: Bullish trend continues as price increases above $13.79

Looking at, The four-hour Solana price analysis also suggests an uptrend, as the bulls performed well today. Although the bulls managed to upgrade the coin value in the earlier hours of the day and are trying to elevate the price level at press time as well, the coin is trading below $14. If we discuss the moving average indicator, then its value is currently $12.88 – slightly below the price levels.

image 56
SOL/USD 4-hour price chart. Source: TradingView

The Relative Strength Index (RSI) score has increased as well and recovered above the border of the underbought area, as the indicator is trading at an index of 75.25. The MACD indicator is also in the bullish zone with the signal line above the MACD line.

Solana price analysis conclusion

In conclusion, Solana’s price analysis is currently in favor of the bullish side and suggests further increases in the market. The buyers have managed to stay afloat and are pushing prices above $13.79, which is a positive sign for the market. However, traders should be aware that the support at $11.77 and the resistance at $14.10 are still in play, and any breach of these levels could lead to a major price movement. In either case, it is important to keep an eye on the market and practice proper risk management while trading SOL.

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.
Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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