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Solana Price Prediction: Is it Starting an Upward Movement?

  • It can be seen that Solana is moving towards support on the daily chart.
  • If the price closes above 18.2 on a daily basis, it can move towards the level of $25.5.
  • If the price closes below 18.2 on a daily basis, it can make a downward movement towards the range of $15,895 – $15,277.

Will the upward movements continue in Solana? Can SOL reach $25.5? We have shared the critical levels that Solana investors should follow in our article.

Daily Solana Price Analysis

Daily SOL/USD Price Chart
Daily SOL/USD Price Chart

When we examine the daily technical chart of Solana, we can see that it is moving towards the rising trend. We can observe that it is trying to hold above the important support range of $19.4 – $18.2. If the Sol price closes above $18.2 on a daily basis, its first target will be to reach $25.5.

However, if the Solana price closes below $18.2 on a daily basis, it can make a downward movement towards the range of $15,895 – $15,277. It is important for the price to make movements above $18.2 in order to resume its upward movement.

The rising trend line in the daily and weekly charts can also play a significant role in the upward movement towards the price of $15,895.

From Which Level Can Solana Start Its Weekly Upward Trend?

Weekly SOL/USD Price Chart
Weekly SOL/USD Price Chart

When we examine the weekly technical chart of Solana, we can observe that it is moving towards the weekly rising trend. If SOL starts its upward movement from the range of $16,142 – $14, it will first touch the descending trend.

If we see weekly candlestick closures above the descending trend, it will want to move towards the targets of $33,365 – $38,792 – $48,386 in order.

However, if it cannot start the upward movement from the support zone and the downward movement continues, it will first aim for the level of $12,605, and then it will try the levels of $7,821. In this case, the weekly rising trend support stands out for a significant upward movement.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.