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Solana Price Prediction: SOL Reversed to Previous Swing High, What Next?

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Solana Price Prediction
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  • Solana price failed to break the previous high of $39.
  • SOL price is trading above the 20,50 and 100 day moving averages on the daily price chart.
  • Overnight trading volume increased 67%, which was reported at $2.4 billion.

Eventually solana price failed to record its highest peak above its previous swing high. Selling pressure causes the asset price to take a few steps back. At the time of writing, SOL price is trading $35.8 against the USDT pair. This weekend, the price is facing a selloff, in fact the price is down 2.76%.

SOL in 4 Hour Chart

In terms of the 4 Hours chart, SOL price reversed from $39 level which is close to $40-round level. This could be the retracement phase if bulls maintain $34 level,  which was resistance before breakout. As of now, speculators have a narrow trading range and a massive trend is likely after breaching either $34-support or $39-resistance. 

Although, SOL price is trading above all significant moving averages on the hourly chart despite today’s sell-off. Notably, bulls are recording 2nd bullish weekend along with 9% gain in the whole week. Overnight the trading volume spiked by 67%, reported at $2.4 Billion. 

In terms of the daily price scale, SOL price is holding above the 20,50 and 100 day moving averages. After a long time, buyers successfully flipped the 100 DMA to support, now they need to maintain this level. Furthermore, 200 DAM is yet to be breached by the buyers.

The RSI is supporting the bulls as its peak remains above the 60 level. And the semi-line acted as a prop in the past few days. Moreover, the MACD continues to move up in the positive zone.


Solana price remains well above the key moving average despite today’s price drop. Now buyers need to maintain the 100 DMA as support to record a more upside trend. Also, in the next attempt, buyers may cross the resistance area with a huge amount.

Support level – $30 and $25

Resistance level – $39 and $50


The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Steve Anderrson

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