Solana Price Analysis: SOL Coin Price Continues To Rally For The Moon

• Solana price is seeing a bullish momentum on the daily chart and can soon see a new high. In contrast, SOL is trading with a gain of 2.54%
• Solana price moving average can see a positive crossover in the future which can push the price further high. Meanwhile, the SOL/BTC pair has seen a gain of more than 2.3% in the intraday session

SOL coin price is observing a strong uptrend and can soon see a breakout above $60. Solana price is currently trading near the value of $45 with an intraday gain of more than 2.5%. Solana token has an ROI of more than 13729% which has profited the investors for a very long time. The coin price is down by more than 50% from it’s all time high but can soon revert to the uptrend. The price of the asset can soon push beyond the $60 level. SOL/BTC pair can also see a breakout from the previous resistance. One can position their funds in the SOL according to their risk capacity and price action scenario

Solana token has a market dominance of more than 0.59% and has a market cap of more than $22,636,724,439. Volume to market capitalization of the SOL is near 0.031 suggesting a weak bull trend. If the ratio goes above 0.8 then a strong upside momentum can be seen.

SOL Coin Price Technical Indicators Hints Towards A Strong Upside Momentum

The weekly technical chart of the SOL price hints towards a strong upside momentum in price. On the daily time frame it has observed a gain of more than 1.8%. The bullish momentum of the SOL coin price can face hostility while going upside near $55. 

Meanwhile on the downside, the bounceback region in the Solana price can be seen near $40. The price of the coin is currently trading above 50 and 100 MA with an upcoming positive crossover in the future. The 100MA  line is near $35, making it a temporary bounceback region for the price. 

The price has given a positive crossover above 100MA which can push the price above $60. If the price of the SOL coin goes 15% above the current level then a strong upside momentum can be seen. One can wait for the price action before investing in the SOLANA

Conclusion

SOL coin price is currently on a bullish mode and can see a new high soon. SOL/BTC pair can also see breakout in the upcoming days

Technical Levels

Major Support:$35

Major Resistance:$65

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