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
 </figcaption>
</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?

İçindekiler

CoinPedia News

30 Oca 2024 tarihli diğer yazılar

Top Altcoins Rallying For Altseason: Best Crypto Coins Ahead of Altcoin Season 2024

Google AI Teases Bard and Gemini Pro Update on Feb 1st

Tesla Shares Open Higher After Positive California Sales Data

SOL and HNT Rise as the Market Rebounds, Algotech (ALGT) Impressive Presale Rally Continues

Arbitrum Foundation Moves 15 Million ARB to Coinbase, Sparking OTC Speculation

Ethereum's Vitalik Buterin Spills Beans on Crypto and AI Challenges

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!