- SOL price has revived nearly 65% since lows of $20
- 200 MA has been acting as resistance the last 3 weeks
- MACD has been coiling for a breakout
Solana has caught much attention over the last year due to its highly scalable and efficient blockchain. SOL price experienced a very strong bull trend while BTC was ranging above $50,000. This strong price action had come to a halt when the overall market turned bearish. Since then, investors have been awaiting a bullish breakout to begin strong revival to previous levels.
Since June 22nd, SOL price is respecting an ascending channel. Price has rejected at the top trend multiple times as the bottom trend has held support.
SOL has experienced 5 rejections at the major resistance of $34.80. Once price manages to break and hold this value, we can expect a large push to near $40. In the case of another rejection, major support is found at $32.17.
SOL Price Analysis: SOL/USDT 4 Hour Chart
Along with the major resistance of $34.80 lies two very important marks. The first being the 200MA which has acted as resistance for nearly a month. In addition, there is a longer term trend that has held SOL price from a bull trend throughout the last 50 days. Bulls must break and hold these marks to experience a strong revival.
The RSI has been consolidating in a sideways fashion over the last week. This has created a descending channel which is shown in black. A break to either side will likely result in a strong price movement. In addition, the MACD has been coiling above the 0 line in bullish territory. This will likely result in a strong upward move once the MA’s cross bullish.
SOL price intraday levels
- Spot rate: $33.55
- Trend: Neutral
- Volatility: Medium
- Support: $32.17
- Resistance: $34.80
- Do Kwon Says Terra Collecting Snapshot Data For LUNA Airdrop
- Top ETH Whales Add These DeFi Tokens Amid Crypto Volatility
- Here’s Why Bitcoin (BTC) Could Be In for Another 50% Correction Under $15,000
- Another Top Exchange To Delist Terra UST Over Collapse
- Just-In: Vitalik Buterin No Longer A Billionaire As Ethereum Crashes
- Bitcoin Price: Key Metrics Show Surprising Insights
- After Terra Crash, Galaxy Digital CEO Warns Against Bottom Buying
- Shiba Inu (SHIB) Prices May Jump Next Week; Here’s Why
- Is Andre Cronje Back On Fantom? FTM Jumps 13%
- PlanB Says Bear Market Almost Over, Bitcoin (BTC) In Buying Range
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?
- Ethereum Classic Price Prediction 2022 : Here’s What to Expect from ETC Price ?
- SAND Price Analysis: SAND Buyers Await Trendline Breakout To Go Long