Solana

Sherpa

Notable

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-price-trends-and-analyst-insights/" data-wpel-link="internal">Solana Price Trends and Analyst Insights</a> 
Solana price has been on a gradual increase since January 23, nearing its highest levels of 2023. While SOL has broken through a short-term resistance level, it is still trading below a long-term resistance level. We explore what might be expected for Solana in the coming period with detailed chart analyses. 
<h2 class="p1" id="solana-weekly-chart-analysis">Solana Weekly Chart Analysis</h2> 
The weekly time frame technical analysis shows that SOL reached its highest level of 2023 in December at $126, but has declined since then. The decline dropped to $79 in January 2024. 
Since then, SOL’s price has been rising, forming weekly bullish candlesticks. The price reached its peak at $119 on February 14, 2024. While the highest level occurred above the long-term Fibonacci retracement resistance level, SOL potentially formed a double top compared to its highest level in 2023. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-316662 size-full" src="https://coin-turk.com/wp-content/uploads/2024/02/sol-haftalik.webp" alt="" width="1807" height="809"> 
The Weekly Relative Strength Index (RSI) also shows a declining trend. Market investors use the RSI level as a momentum indicator to determine overbought or oversold conditions. Readings above 50 and an upward trend indicate that investors are still at an advantage, while readings below 50 indicate the opposite. 
<h2 class="p1" id="notable-analyst-comments-on-solana">Notable Analyst Comments on Solana</h2> 
The indicator is forming a bearish divergence (green trend line) while increasing and being above 50, which usually precedes downward movements. Crypto investors and analysts sharing on platform X view the future SOL trend positively. Crypto investor <a href="https://en.coin-turk.com/what-is-request-coin/" data-wpel-link="internal">Altcoin</a> Sherpa also made notable comments about SOL: 
<blockquote> 
 “It’s strange to see it climbing slowly on the chart. Considering the length of time between each peak, I expect some kind of sell-off at the highs, but the overall market is still on the rise right now. I don’t think a major correction for Solana is on the table at the moment. I believe the uptrend will continue into 2024, and most people will make more <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">money</a> by just buying in now and sitting on it for months instead of waiting for a 20% correction.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-316660 size-full" src="https://coin-turk.com/wp-content/uploads/2024/02/sol-gunluk-grafik.webp" alt="" width="2162" height="1179"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-price-trends-and-analyst-insights/" data-wpel-link="internal">Solana Price Trends and Analyst Insights</a></h5>

Solana Price Trends and Analyst Insights

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