Convergence

Solana

Divergence

The post <a href="https://coinpedia.org/price-analysis/solana-achieves-200-milestone-correction-impending-for-sol-price/">Solana Achieves $200 Milestone! Correction Impending For SOL Price?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The cryptocurrency industry continues to display a strong uptrend in valuation, highlighting a robust bullish sentiment in the market. Further, top altcoins continue to record significant fluctuations, indicating a positive outlook for these tokens in the coming time. 
On the other hand, <a href="https://markets.coinpedia.org/solana/">Solana price</a> has successfully reclaimed the $200 mark for the first time since December 2021, indicating a rise in investor’s interest in it. Further, the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">SOL price</a> has added approximately 11% within the past 24 hours, resulting in it surpassing the Binance token and claiming the title of the fourth-largest cryptocurrency in the world. 
<h2 class="wp-block-heading" id="h-solana-price-hits-26-month-high">Solana Price Hits 26-Month High!</h2> 
The SOL coin price traded in a closed range between $100 and $115.55 for a brief period, indicating a weak buying and selling pressure for the token in the crypto industry. As the market volatility increased, the bulls jumped 26% in valuation before facing rejection at $135.45. 
The Solana price displayed a neutral by trading sideways for the next seven days. After testing its low of $115.55, the SOL price regained momentum and recorded a jump of 29.25%, following which the altcoin traded sideways for over a week. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/8guGMH7XwrCODxVnXc5wkN4DFixrkOW72J40y4tzfkiFakZHVYHD09IyYv7eCh0DGZ21ZLDeMZhP-S-4Iy5Szqxs8PZkUSSFizzOiVNd2rhfhKRbInXJFMLgWcpwaBTlzJRPLFYCiynIVjx0B_VMaTU" alt="SOL Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: SOL/USDT
 </figcaption>
</figure> 
Recently, the bulls regained momentum and jumped 32.38% before facing rejection just below the resistance level of $200, following which the price recorded a correction in the chart. However, the bulls regained momentum, and the Solana price successfully reclaimed the $200 during the early trading hours today. 
The Moving Average Convergence Divergence (MACD) displays a minor decline in the green histogram, indicating an increase in the selling pressure within the market. Moreover, the averages show a high possibility of a bearish convergence, suggesting a negative price action for the altcoin in the coming time. 
Did You Know That: <a href="https://coinpedia.org/price-analysis/this-move-may-make-solana-the-third-largest-crypto-flipping-usdt-heres-when-it-could-happen/">This Move May Make Solana the Third-Largest Crypto, Flipping USDT: Here’s When it Could Happen</a> 
<h2 class="wp-block-heading" id="h-will-sol-price-continue-rising">Will SOL Price Continue Rising?</h2> 
If the market holds the price above the support level of $200, the bulls will regain momentum and run to test its resistance level of $225 this week. Maintaining the price at that level will set the stage for the SOL token to attempt to test its upper resistance level of $250 during the upcoming week. 
Conversely, if the bears overpowered the bulls, the price would lose momentum and fall to test its support level of $185. Further, if the bears continue to hold power over the bulls, the Solana price will continue to bleed and test its lower support level of $170. 
Also Check Out The: <a href="https://coinpedia.org/price-analysis/with-a-16-surge-shib-price-trend-ready-for-uptrend/">With A 16% Surge, SHIB Price Trend Ready For Uptrend!</a>

Solana Achieves $200 Milestone! Correction Impending For SOL Price?

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