Convergence

Solana

Jito

Propel

<img width="1200" height="681" src="https://cdn.coingape.com/wp-content/uploads/2023/12/10185032/QnJpbWCu-1-e1702214452521.png" class="attachment-full size-full wp-post-image" alt="SOL price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Solana Price Prediction:&nbsp;&nbsp;Following the broader market trend, Solana (SOL) is poised for a significant surge, fueled by <a href="https://coingape.com/bitcoin-all-time-high-surge-similar-to-historic-run-in-2021/">strong bullish momentum.</a> The October rally ignited a bullish frenzy, breaking a long-term resistance and propelling the price from $21 to the $70 mark within two months. With a 235% jump in that timeframe, SOL now eyes the $100 psychological resistance. Will the bulls overpower this barrier and extend the uptrend, or will a reversal arise? 
Also Read: <a href="https://coingape.com/solana-based-jito-jto-skyrockets-40-is-5-next/">Solana-Based Jito (JTO) Skyrockets 40%, Is $5 Next?</a> 
<h2 id="b-can-buyers-propel-sol-to-100-b">Can Buyers Propel SOL To $100?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The SOL price trend shows a short pullback in action as the sellers step in at the overhead resistance at $77.77.</li> 
 <li style="font-weight: 400;" aria-level="1">The pullback phase comes as a retest of the $70 breakout to refuel the prevailing uptrend.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in Solana is $2.1 Billion, indicating a 31% loss.</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/q/QnJpbWCu.png" alt="Solana Price Prediction" width="1946" height="1104">
 <figcaption class="wp-caption-text">
 Solana Price Prediction| TradingView Chart
 </figcaption>
</figure> 
Riding a wave of bullish momentum, the <a href="https://coingape.com/price/solana/">Solana (SOL) price</a> has skyrocketed over the past two months, experiencing a dramatic turnaround. The meme coin, predominantly displaying bullish candles, has finally breached the $75 mark in a remarkable eight-week climb. 
<blockquote>
 Starting the month at $59.31, the SOL price experienced a sharp boost as the overall market bounced back. This altcoin approaches the overhead resistance zone, leading to a 21.15% jump and reaching a 52-week high of $77.77.&nbsp;
</blockquote> 
Currently, the SOL price trades at $71.73 and forms a bearish candle of 0.83% fall following the 3.62% drop last night. Teasing a deeper pullback, the retest gains momentum and warns of a drop under the $66 mark if the sellers get serious.&nbsp; 
<h2 id="b-pullback-threats-minor-crash-for-solana-b">Pullback Threats Minor Crash For Solana</h2> 
The Solana (SOL) recovery faces a new resistance above the psychological level at $75, resulting in a higher price rejection and teasing a trend reversal. However, the trend-based Fibonacci retracement labels the ongoing pullback as a retest. Further, the buyers are expected to halt the downtrend at $70 and potentially drive the uptrend to $100 before 2023 ends.&nbsp; 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Bollinger Bands:&nbsp;The uptick in the upper boundary <a href="https://coingape.com/education/bollinger-band/">Bollinger Band</a> showcases the buyers are aggressive in nature.</li> 
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: The <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/">MACD</a> and signal lines give a positive crossover and signal a trend reversal for Solana, increasing the chances of reaching $100.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/solana-price-prediction-will-sol-shakeoff-the-pullback-phase-to-100/">Solana Price Prediction: Will SOL Shakeoff The Pullback Phase To Head Beyond $100?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Solana Price Prediction: Will SOL Shakeoff The Pullback Phase To Head Beyond $100?

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