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- 1 Solana price prediction remains bullish till it sustains above $18.00 level.
- 2 SOL price is trying to sustain above the 50-day and 200-day EMA.
- 3 Solana crypto price returns back to the demand zone.
Solana price prediction remains bullish till it holds $18.00 and suggests a rise in the long run. However, for the short term SOL price is in correction mode and buyers are trying to halt the downfall.
Solana price is near to the 50-day and 200-day EMA which is acting as a crucial support. The positional trend is up but sellers are strengthening their grip and trend might reverse down.
In the mid of July, SOL price broke the $25.00 hurdle with a high volume. It triggered the positive sentiment and created a hope for new highs.
Solana price hit new YTD highs at $32.13 but sadly buyers were unable to hold the higher levels. It formed an inverted hammer candle near $32.00, which shows the signs of bearish trend reversal.
Later, SOL crypto price reverted down and slowly began to decline by forming lower lows. It eroded the gains of previous month and returned back to the demand zone.
Solana Price is trading at $23.11 with an intraday rise of 2.03%. The 24 hour volume to market cap is 3.20%.
Keep Solana Price on Radar, Know Why?
Solana price prediction suggests price is near to crucial support and bounce back is possible. However, if the overall crypto market and BTC price drops below $29K then probability of bounce in SOL price will decrease.
Keep Solana crypto into radar because price is near to the demand zone and sharp up-move or down-move is possible. Till SOL price sustains above $18.00 it is expected to remain in the bulls grip.
If the overall market recovers in coming months then the SOL prices might also take a U-turn. On the other hand if SOL crypto price drops below $18.00 then it may raise concern for the investors.
SOL Price corrected 30%
SOL price corrected 30% approx from the recent high and fell for 3 consecutive weeks. It shows short term correction is going on and buyers are struggling to defend the support.
The MACD curve slopes down and displays a golden crossover. It indicates mild bearishness. The RSI at 48 near to neutral territory denote correction is over and time for correction is near.
Conclusion
Solana price prediction is bullish and suggests pull back is possible. The technical analysis suggests, If SOL price holds both the EMA then probability of reaching $35.00 will remain high.
Technical levels
- Resistance levels: $27.00 and $32.00
- Support levels: $20.00 and $15.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
