Convergence

Solana

Divergence

The post <a href="https://coinpedia.org/price-analysis/solana-flips-xrp-and-records-a-20-month-high-sol-price-to-achieve-100-this-week/" rel="noopener noreferrer nofollow">Solana Flips XRP And Records A 20-Month High! SOL Price To Achieve $100 This Week?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The Solana price has recorded a jump of over 13% within the past 24 hours, making it one of the top gainers of the day in the crypto industry. Further, the SOL token is currently trading at a 20-month high as it is on the verge of achieving its year target of $85.
Moreover, Solana successfully overtakes Ripple’s XRP token, indicating a strong on-chain sentiment for this token.&nbsp;
The <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">SOL coin price</a> constantly traded in a consolidated range between $54.01 and $59.73 for over a week, after which the bulls gained power and the price broke out of the resistance level. The rally was short-lived as the price faced rejection at $65.90, following which the Solana traded in a closed range for a while.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/SLwGS05tMZq4IU0atlfzBJNXKz3GX818jPOR0HCbayIA-DpnFSfpW9EyD2aiZmFHVh8NVKUwICixHdRCIM3NMPL4fKdwY5DaZ7F4k781RYx5Py3ZOd5oKkEUS1maGOxZRMIRNrh8AOhb6LtcZv-sstA" alt="Solana Price Analysis">
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 TradingView: SOL/USDT
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After multiple attempts, the market regained momentum and the bulls jumped over 20% before facing rejection at $79.65. Following this the price started trading under a bearish influence and displayed a correction of approximately 22% in value.
The bulls held the price high above the support level of $62.81, resulting in a bounce back in the price. The Solana coin price faced another rejection at $79.65 after which it experienced a correction of 15%.
Recently, the bulls regained momentum and displayed a jump of 10% after which the price hovered around the support/resistance level of $75 for a while. Further, the SOL coin price has jumped 13% within the past day, resulting in the token recording a new yearly high in its price.
<h2 class="wp-block-heading" id="h-will-sol-price-go-up">Will SOL Price Go Up?</h2>
The Moving Average Convergence Divergence (MACD) displays a constant rise in the histogram, indicating an increasing buying-over-selling pressure in the market. Further, the averages show a sharp rise, suggesting the price will continue gaining value in the coming time.
If the bulls push the price above the key resistance level of $85, the SOL price will continue gaining value and test its upper resistance level of $90 in the coming days. Maintaining the price at that level will set the stage for the Solana token to attempt to test its upper limit of $100 by the month-end.
Conversely, if a trend reversal occurs, the Solana token will lose momentum and fall to test its support level of $75 in the coming days. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $70 this month.

Solana Flips XRP And Records A 20-Month High! SOL Price To Achieve $100 This Week?

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