Price Analysis

Solana Expected to be the Best Retirement Plan, Will SOL Price Hit $300 By EOY?

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Dec 22, 2021

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Article Highlights
  • The asset could gearup to hit the levels close to $250, yet bears are also pretty active and hence the SOL price may face interim pullback

  • Solana price is accumulating gains along some crucial levels where-in a breakout is the need of the hour

The Solana price was swinging within minor regions with constant ups and downs in the past couple of hours. Currently, the asset appears to have gearing up all its resources to uplift the price beyond $200. Therefore despite some hindrance amid the rally, the asset may eventually close the yearly trade on a bullish note.

Altcoins, since the early trading hours are buckling up to leap long and try to form a new ATH at the earliest. Recently, Terra(LUNA) discovered new highs, while Avalanche(AVAX), Polygon(MATIC), etc are on the verge to mark new highs very soon. And hence SOL price may also follow these altcoins in order to mark new highs in the next couple of days. 

The constant pumps and dumps of the SOL price compelled the price to form a double bottom pattern. While the asset was attempting to break through the pattern, it fell into a minor bearish divergence. At the press time, the SOL price is experiencing notable drain, yet in the upcoming hours, the bulls may get back into action to uphold the price above the neckline above $187. 

Yet, the asset needs to pierce through the crucial resistance at the 200-day MA in the 4-hour chart at $193. Ranging above these levels may verify the uptrend and moreover, achieving the levels above $230 could ignite the bull run which may drag the price close to the $300 target before the EOY 2021.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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