SOL Price Update: Solana (SOL) Price AT Weekly Support Around $96.0; Are You Buying The Dip?
Solana (SOL) price trades with gains on Saturday after a series of range-bound sessions. Still, the pair is not out of the wood yet. Investors must cross the threshold of January 22 highs around $114.21. The pair is under the formation of lower highs and lower lows since December 4.
In the past seven days, SOL has depreciated almost 30% and sellers continue to dominate the price action. At the time of writing, SOL/USD is trading at $96.23, up 5.36% for the day. The current market cap ranked no. 7 at $30B as per the CoinmarketCap.
Solana Network could get a boost on Coinbase listing
The second-largest crypto exchange by trading volume, Coinbase is gearing up for listing Solana Program Library (SPL) tokens on its trading floors.
Technically speaking, Solana’s (SOL) price has taken a breather after rout of selling near the weekly support. Some upside momentum is expected from this level as indicated by other technical indicators.
The daily relative strength index (RSI) reads at 28 and is on the brink of a bullish crossover. Buyers could attempt the recovery from the recent lows of $90.00 with an appetite for 33% returns.
Bulls needs to test the horizontal resistance level of $ 141.76 then only it can be a trend reversal condition for the SOL.
Source: Trading view
Alternatively, if the price breaches the weekly lows of $80.67 then the market participant could meet the next horizontal support zone at $62. The levels are last seen in August.
- Pudgy Party Hits 750K Downloads- Expert Predicts 400% “Bull Rally” for PENGU
- Pi Network Update: Team Launches Faster KYC Solution Amid Rising Complaints On Token Claim Delays
- Glassnode Data Shows Bitcoin May Drop To $105.5K This Week, Here’s Why
- Co-Founder Predicts $1,000 SOL Price as Solana Treasuries Skyrocket to $4B
- REX-Osprey XRP ETF Debuts With Record $37.7M Volume as Analyst Projects Bullish Run
- Shiba Inu (SHIB) Price Prediction: Massive SHIB Burn and 80-Week Cycle Mirroring Past Rallies: Will History Repeat?
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
