Solana

The post <a href="https://coinpedia.org/price-analysis/solana-price-regains-momentum-will-sol-price-hit-120-this-week/">Solana Price Regains Momentum! Will SOL Price Hit $120 This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
After displaying a bearish sentiment for a brief period, the Solana price has recorded a significant uptrend over the recent time. The <a href="https://markets.coinpedia.org/solana/" target="_blank" rel="noreferrer noopener">SOL token</a> has witnessed a jump of approximately 5% within the past day and has added approximately 20% over the past week. 
The <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">Solana price</a> traded in a closed range between $99.70 and $108.18 for a while, following which the bulls gained momentum and attempted a breakout. However, the rally was short-lived as the price faced rejection at $116.95. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/AJRirI55AC810Poh93b92Ycwx0p9WHbHF9MBFrxuZDzwHKCpqKKfpFVWpap7DKH3hqe3He5wFTumTCTGeVkOqUCJRUmLq6pYacpvIn6uHEOVZBZ56izjYWnAnm0mDecXe7V_DYaqPA-pzy2Q0sq2qy8" alt="Solana Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: SOL/USDT
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</figure> 
After this, the price recorded a correction of 23% in value. The bulls held the price strong above the support level of $90, resulting in a bounce back in valuation. 
Following this, the price traded in a consolidated range between $90 and $108.18 for a brief period, indicating a neutral trend in the crypto space. After multiple failed attempts to break out, the market lost momentum and experienced a breakdown in the chart. 
After testing its low of $80, the price regained momentum and has displayed a constant rise in the chart. Recently, the SOL price successfully broke out of its important resistance level, highlighting a bullish influence in the market. 
<h2 class="wp-block-heading" id="h-will-solana-price-regain-value">Will Solana Price Regain Value?</h2> 
The MACD shows a constant green histogram, highlighting a positive price action in the crypto market. Moreover, the averages show a steady rise in the chart, suggesting a bullish influence in the industry. 
If the bulls hold the price above the support level of $99.70, the SOL price will test its resistance level of $108.18 soon. Further, if the bulls maintain the price at that level, it will prepare to test its upper resistance level of $116.95 in the coming time. 
Negatively, if a trend reversal occurs, the SOL price will lose momentum and fall to test its support level of $90 soon. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $80.19 by the weekend.

Solana Price Regains Momentum! Will SOL Price Hit $120 This Week?

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