- Solana coin price has surged by 160% since November.
- SOL price is trending over the significant moving average which showcases the bullish trend.
Solana (SOL) price has displayed a strong bullish trend on the chart as the price jumped by 200% in the past few months. The bullish trend has disturbed near the $120 hurdle and the price has dropped by 22% in the past few weeks.
As the chart shows, the SOL coin price has been declining since the last week of December. The price was falling by forming lower lows and lower highs and the lower highs were unable to reach the last swing high. But recently, the Solana coin price has reached the last swing high and it has started consolidating and continuously defending the 20-Day moving average.
Solana’s crypto price is trading at $97.12 with an intraday gain of 0.27%. The market capitalization of Solana is $42.45 Billion and in terms of market capitalization, it ranks 5th in the cryptocurrency market.
The 24-hour trading volume of Solana is $1.39 Billion which has dropped by 15%. Based on the trading volume, Solana ranks 6th in the cryptocurrency market.
Solana Price Has Formed a Flag and Pole Pattern on a 1-D Time Frame
On a daily time frame, the SOL coin price has formed a flag and pole pattern and recently showed a positive breakout. The SOL price is consolidating between the 20-Day moving average and the $102 mark. Solana price has been in bullish trend so more seller strength is needed to drag the price below the 20-Day EMA.
SOL crypto price has given a bullish breakout and is facing resistance from the $102 level. If the Solana price surpasses the $102 mark, the buyers may lift the price to a multi-year high.
But, if the Solana price reaches the $120 mark, two scenarios can be expected. Where the investors may prefer to book the price which may result in a bearish momentum or again the buyers may continue the bullish trend.
The circulating supply of Solana is 436,870,803 SOL and the fully diluted market cap is 55,198,851,245. The total supply of Solana is 569,045,253 SOL.
Solana Price Prediction FAQs
What is the Solan price prediction today?
The SOL price is forecasted to gain 1.93% to reach $98.59 by today.
What is the SOL price forecast for tomorrow?
Based on our analysis, the Solana crypto price is forecasted to perform positively. The price may rise 2.17% to hit $100.46 by tomorrow.
What is the SOL price prediction for this week?
According to our analysis, the Solana coin price is predicted to remain bullish. The SOL price is predicted to reach $109.27 at the upper end and $96.06 at the lower end.
What is the current SOL price sentiment?
The current Solana crypto price prediction sentiment is bullish.
Summary
Solana price has been in a strong bullish trend and is trending over the significant moving average. The positive move of 200% in the past few months indicates the bullish dominance. RSI is at 52 and slowly rising to the overbought zone. The price has formed a flag and pole pattern on a daily timeframe.
Technical Levels
Resistance: $102.00 & $120.00
Support: $80.00 & $65.63
Disclaimer
Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is especially volatile and speculative, and this article does not advise investing in cryptocurrencies or other ICOs. Since everyone is unique, a certified professional should be continually consulted before making any economic decisions.