Is SOL About to Explode Above $100? Three Things to Watch This Week (solana Price Analysis)
Solana appears to be towards the end of its consolidation and it may try to reach $100 again.
Key Support levels: $78
Key Resistance levels: $104
1. Bulls Are About to Return
Solana was on the verge of charting another lower low, but buyers returned to prevent that from happening. As a result, SOL made a higher low and its price action is showing signs that it may want to test resistance at $104.
Chart by TradingView
2. Preparing for an exit
If the price rises above $100 again, the key resistance will find it difficult to stop the bulls and Solana could enter a new uptrend. This latest correction appears to be coming to an end, which would support such a move.
Chart by TradingView
3. MACD Turns Bullish
The 12-hour MACD is hours away from a bullish crossover. If approved, buyers will have the upper hand and SOL will likely return to a triple-digit valuation. Watch the price action of this signal closely.
Chart by TradingView
prejudice
Bias for the LEFT is neutral.
Short Term Forecast for SOL Price
The trend will turn bullish if the key resistance at $104 is broken. By then there could be pressure building below this key level, leading to increased volatility this week.
SPECIAL OFFER (Sponsored)
Binance $100 Free (Exclusive): Use this link to sign up and get $100 free and 10% discounted fee on binance Futures for your first month (conditions).
Disclaimer: The information contained on CryptoPotato belongs to the authors quoted. They do not represent CryptoPotato’s views on buying, selling or holding any investment. It is recommended that you do your own research before making any investment decisions. You use the information provided at your own risk. See Disclaimer for more information.
Cryptocurrency charts from TradingView.
#SOL #Explode #Watch #Week #Solana #Price #Analysis