Solana (SOL) price prediction shows that despite the recent drop in hype caused by some ecological events, SOL is still going strong. Solana (SOL) is a great example that early participation in crypto projects often leads to huge gains. Since its all-time low of $0.5052 on May 11, 2020, SOL has surged a staggering 41,575.77%, reaching a high of $210.34 in the past 24 hours. Even after retracing from its all-time high of $294.33 15 days ago, SOL remains one of the most notable success stories in the crypto space. Those who recognized its potential early have seen life-changing returns, proving that time can be key in crypto investing.
SOL/USD Market
Key Levels:
Resistance Levels: $250, $260, $270
Support Levels: $160, $150, $140
SOL/USD is experiencing significant price volatility, with large liquidations contributing to the ongoing volatility. Looking at the daily chart, Solana is showing resilience despite the overall bearish crypto market. The current price is testing the $175-$200 support range, a key level that has historically been a sign of strong demand. However, multiple technical factors strengthen this area, including psychological support and a trendline at the lower boundary.
Solana Price Prediction: Will SOL Surge Towards?
According to the daily chart, Solana price shows that it is currently trading at $210.50, having rebounded slightly after testing the lower boundary of the ascending channel. However, the recent bearish action has seen the price break above the 9-day moving average ($225.30) and the 21-day moving average ($232.29), signaling a potential short-term downtrend. Meanwhile, the price has found support near the trendline, suggesting that buyers are stepping in to defend the bullish structure. Therefore, if SOL holds this support, traders could see a move back up to the 9-day moving average and possibly a retest of the 21-day moving average, the latter of which could act as resistance in the short term. A confirmed break above these levels could push SOL back to the key resistance levels of $250, $260, and $270, which coincide with the upper channel boundary.
On the downside, if the selling pressure intensifies and SOL breaks the downtrend line support, the next key support levels are $160, $150, and $140. Moreover, the increasing volume of the recent bearish candles suggests a strengthening seller interest, which could result in further declines if the bulls are unable to sustain the current rebound. A breakout above $180 will deny the ascending channel pattern and shift the sentiment towards a deeper correction. In the meantime, traders should closely monitor SOL's behavior around its moving averages and whether it can recapture the key resistance level to confirm a bullish continuation.
SOL/BTC may move upwards
In contrast to Bitcoin, Solana price is currently trading at 2143 SAT, having been rejected by the upper border of the descending channel. The price recently broke below the 9-day moving average (2140 SAT) and remains below the 21-day moving average (2268 SAT), indicating that bearish pressure remains. Therefore, if the price fails to recapture these levels, SOL/BTC may continue its downward movement until the support level of 1650 SAT and below, which coincides with the lower border of the channel. However, the recent increase in the volume of the bearish candles suggests that sellers are still in control of the situation, and a deeper correction may occur if demand does not increase.
Nonetheless, if SOL/BTC finds strong support around current levels and manages to recapture the 9-day moving average, a move back towards the 21-day moving average can be expected in the short term. Meanwhile, if a breakout above this moving average is confirmed, the price could rally back towards the resistance level of 2,450 SAT and above, in line with the upper trendline of the descending channel. In other words, bulls need to sustain momentum above current levels to deny the overall bearish structure. Until then, the price remains at risk of further downside and traders should closely monitor whether SOL/BTC can stay above the critical support level to confirm a potential reversal.
However, crypto analyst @CryptoCaesarTA informed his followers on X (formerly Twitter) that he believes $SOL – #Solana could bounce soon. He also shared two key levels of buying interest where he expects strong support and potential upside momentum, suggesting that traders have an opportunity to accumulate ahead of a possible price rebound.
$SOL-#Solana will rebound soon, I personally think.
These are my two buy interest levels.
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