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- 1 Solana price prediction showcases the recovery phase of SOL crypto above an upward sloping line.
- 2 SOL crypto has recovered above 20, 50, 100 and 200-days daily moving averages.
- 3 The pair of SOL/BTC was at 0.0008574 BTC with an intraday gain of 1.59%.
Solana price prediction showcases the upside trend of SOL crypto above an upward sloping line over the daily time frame chart. SOL crypto has been surging after recovering above the $16.05 support zone. Solana price has sustained above an upward sloping line and has been gaining to recover towards the $30 recovery level. Solana cryptocurrency has gained 152% year to date showcasing the maximum recovery of SOL crypto in 2023.
Solana price was at $25.09 and has gained 1.13% of its market capitalization during the day’s trading session. However, trading volume fell by 19.58% during the intraday trading session. This demonstrates that sellers are getting involved in the trade to pull SOL crypto price downwards. The volume to market cap ratio was at 0.0347.
Solana Price Prediction: Technical Analysis
Solana price prediction showcases the upside trend of SOL crypto above an upward sloping line over the daily time frame chart. Meanwhile, SOL crypto is trying to maintain above 20, 50, 100 and 200-days daily moving averages.
Analysts believe that Solana crypto price may surge more towards the $30 recovery level if it sustains at the primary resistance of $26.80. However, the volume change is below average and needs to grow during the intraday trading session. Sellers may approach during the day’s trading session to try a pull back.
Solana price has gained 57.42% in a month and 8.41% in the last three months. Moreover, Solana prices have surged more than 150% year to date. This confirms the facts regarding SOL crypto’s maximum recovery during 2023.
Technical indicators show sustainability issues of Solana crypto price. Relative strength index (RSI) indicates the upside trend of SOL crypto above the positive sloping line. Moving average convergence divergence (MACD) explains that SOL crypto price is trying to remain above the upward sloping line.
RSI was at 58 and is heading towards the overbought territory. The MACD line is below the signal line and waiting for a positive crossover.
Investors in Solana cryptocurrency need to wait until the SOL crypto price sustains at the primary resistance of $26.80.
Summary
Solana price prediction depicts the SOL crypto’s rising trend above an upward sloping line on the daily time frame chart. Solana cryptocurrency has gained 152% year to date, indicating that SOL coin will reach its peak in 2023. Analysts predict that if the Solana price holds at the key resistance level of $26.80, it will continue to rise towards the $30 recovery level. Technical evidence indicate that the Solana cryptocurrency price is not sustainable. Solana cryptocurrency investors must wait till the price sustains above the key resistance level of $26.80.
Technical Levels
Support Levels: $24.50 and $23.00
Resistance Levels: $25.70 and $26.80
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
