Solana

The post <a href="https://coinpedia.org/price-analysis/active-above-50-sol-price-eyes-75-only-if-this-happens/" rel="noopener noreferrer nofollow">Active Above $50, SOL Price Eyes $75, Only If This Happens!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Overcoming the bearish sentiments induced by the CZ guilt pleading, the crypto market took a quick correction of high magnitude. However, the uptrend in SOL price continues as the buyers regain trend control at a crucial support trendline in the 4-H chart.&nbsp;
Further, with the sharp recovery to avoid the deep correction phase, the Solana price trend nulls a head and shoulder pattern breakdown. Therefore, the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">SOL price prediction </a>maintains an optimistic viewpoint for the coming time.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/11/23141155/SOLUSD_2023-11-23_10-16-50-1024x463.png" alt="" class="wp-image-247890" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/23141155/SOLUSD_2023-11-23_10-16-50-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141155/SOLUSD_2023-11-23_10-16-50-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141155/SOLUSD_2023-11-23_10-16-50-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141155/SOLUSD_2023-11-23_10-16-50-1536x695.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141155/SOLUSD_2023-11-23_10-16-50-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141155/SOLUSD_2023-11-23_10-16-50.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
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Source – <a href="https://www.tradingview.com/x/bQO5fqGX/" rel="noopener noreferrer nofollow">TradingView</a>
With a bullish harami breakout at the support trendline, the SOL price avoids a head and shoulder breakout. Further, the uptrend finds bullish support in trading volume as it surges with the recovery.&nbsp;
Moreover, the bullish comeback surpasses the 50 EMA in the 4H chart and promotes further recovery.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/11/23141200/SOLUSD_2023-11-23_10-18-00-1024x463.png" alt="" class="wp-image-247891" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/23141200/SOLUSD_2023-11-23_10-18-00-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141200/SOLUSD_2023-11-23_10-18-00-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141200/SOLUSD_2023-11-23_10-18-00-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141200/SOLUSD_2023-11-23_10-18-00-1536x695.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141200/SOLUSD_2023-11-23_10-18-00-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/23141200/SOLUSD_2023-11-23_10-18-00.png 1825w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source- Tradingview
In the 1D chart, the price trend gives a more optimistic signal and teases a double-bottom pattern forming at the $51 mark. Further, last night’s bull run of 11.48% undermines the previous 8.76% drop, forming an engulfing candle.&nbsp;
Currently, the SOL price trades at $58.14, with an intraday growth of 1.01%, teasing an uptrend continuation.
Technical Indicators:
RSI: The daily RSI line maintains a declining trend despite the sideways stroll in SOL price. Emphasizing a weakness underneath, the RSI line warns of a setback or a consolidation.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-sol-price-cross-the-66-peak">Will the SOL Price Cross The $66 Peak?</h2>
In the daily chart, the bulls are extremely dominating with the double-bottom reversal. Further, the crypto market sentiments are on a progressive road similar to the 4-hour SOL price chart.&nbsp;
Therefore, as Solana sustains the uptrend and protects the ascending trendline, the uptrend is ready to gain momentum. This increases the likelihood of buyers crossing the $66 peak. Further, the bullish rally can reach to the $75 mark.&nbsp;
Conversely, a downside reversal under the $50 mark can drop the prices to $44-$45.
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Active Above $50, SOL Price Eyes $75, Only If This Happens!

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