SOL Breaks Above $110 but How High Can It Go? (Solana Price Analysis)
Solana returns with a vengeance after a brief dip under $100.
Key Support levels: $104
Key Resistance levels: $117, $126
1. Bulls Are Targeting $117
Solana did not sit long at two digits and quickly reversed course to recover some of the recent losses. This renewed rally has taken the price back on the offensive, and its target is the resistance at $117.
2. Buy Volume Explodes
As soon as SOL’s price dipped under $100, buyers rushed to take advantage of this discount. The strong buying volume managed to completely change the price action and turn this cryptocurrency bullish again.
3. Daily RSI Reversal
Thanks to this recent performance, Solana’s daily RSI has moved above 50 points and turned bullish again. This is a key signal that sentiment has changed and continuation of this rally is likely.
Bias
The bias for SOL is bullish.
Short-Term Prediction for SOL Price
Solana is well on its way to hit $117. If it breaks above that key level, then the next target will be found at $126.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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