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Solana price analysis: SOL/USD expected to go back to $200

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TL; DR Breakdown

  • Solana five-day price analysis chart suggests that the market is generally bullish.
  • Our daily Solana price analysis is bullish.
  • The cryptocurrency heat map has mixed results.

Solana price analysis: General price overview

Solana’s five-day price analysis chart suggests that the market is generally bullish, with most candlesticks red. The bulls were so powerful that the bears attempted to drag them down.

Solana began her price analysis chart with a positive trend. The bulls controlled the market, pushing prices up in a cup and handle pattern that took them to intraday highs of $174.56. The bears erected a powerful barrier at the intraday highs, causing a falling price in a descending triangle.

Buyers established numerous support levels. However, the fierce bears outmaneuvered them. The bearish trend persisted until the price reached its lowest point of the day, at $163, where buyers marshaled their dispersed strength to halt the slide.

Today’s Solana price analysis shows that SOL/USD is bearish. Today the coin is trading at a low of $152. This follows a successful week during which the value rose to $220 and then corrected to $170 during yesterday’s session. We expect the coin to begin an upward momentum as the bull’s eye $180 mark.

Our daily Solana price analysis is bullish, as the market rebounded from the lower Bollinger Band and tested $152.5 support following a bearish weekend, indicating that we are optimistic for SOL/USD to advance higher over the next 24 hours and break above another barrier at $258.

Solana price analysis: We expect SOL to hike to $500 if it breaks the $200 resistance 1

Solana price analysis: SOL/USD expected to go back to $200 1Source: Coin360

The cryptocurrency heat map has mixed results, with some digital assets record gains while others trade in the red zones and record substantial losses. Today’s most significant digital asset is currently trading in positive momentum, gaining around 0.9 percent from yesterday’s price. The second-largest digital asset is currently trading in a bullish trend, but there are indications that the currency may move in a bearish direction. Cardano has been declining by more than 3 percent since yesterday’s price peak. Solana is working in a good way, with an increase of around 1%.

SOL/USD 4-hour chart: Bullish signals

Solana price analysis: SOL/USD expected to go back to $200 2Source: Tradingview

The four-hour price analysis chart indicates that the MACD line is below the red signal line. If the upward trend persists and crosses over the red signal line, you’ll notice an increasing trend that is unlikely to be reversed soon.

The price of Solana has been driven by considerable bullish pressure over the previous few weeks, and it’s one of the best-performing coins on several days. The bulls pushed Solana to earlier highs of $200 during September, following a consolidation of around $80 in August.

Solana price analysis: Conclusion

Technical indicators are suggesting that buyers will cut short the bearish trend and begin a solid bullish trend. 

Traders anticipate that Solana’s price will continue to rise. We believe that Solana’s price will soon return to $200.

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.

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.

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