- The price of Solana (SOL) can continue its upward trend as long as it stays above the specified support zone.
- The nearest support level is determined as $16.18 and it is expected that SOL will try to stay above this level.
- If the SOL price closes below the $16 level, the downward movement may expand.
When examining the 3-hour chart of Solana (SOL) price, it can be seen that it touched the specified support zone and experienced a sudden increase. According to the analysis, if SOL continues to stay above the support levels, the upward trend can be sustained.
Medium-Term SOL Price Analysis
When examining the current technical chart of Solana, it can be seen that it started to rise from the support zone mentioned in our article on June 22nd, which was $15.95, and provided a return of 5.42% to our readers.
Click Here to Read Our SOL Analysis Shared on June 22nd.
According to the technical analysis of Solana, if the price stays above the important support zone of $15.95 – $15.25, the upward trend may continue and a movement towards the $21.34 levels may begin.
According to the analysis, if the SOL price stays above the levels of $15.95 – $15.25, its first target is the $18.78 level, and then there is a potential for an upward movement towards the $21.34 level.
However, if the SOL price closes below the $15.25 support on a daily basis, the downward movement can expand towards the $14.50 levels. If the closing also occurs below the $14.50 support, the downward movement can continue until the daily support at the $13.61 levels.
Short-Term SOL Analysis
Short-Term SOL Chart
When examining the 3-hour chart of Solana (SOL), it can be seen that it touched the previous support zone mentioned in the analysis and rose to the $16.74 levels. As long as SOL stays above the specified support zone in the analysis, it tends to continue the upward trend.
The nearest support zone is considered as the $16.18 level. Solana may aim to continue its rise towards the $17.74 level as long as it stays above the $16.18 level.
However, if the SOL price closes below the $16 level on an hourly basis, the downward movement can expand towards the $15.53 levels. It is important to closely monitor the support and resistance zones for the SOL price.
