Price Analysis View Non-AMP

Solana Flips XRP And Records A 20-Month High! SOL Price To Achieve $100 This Week?

Published by
Elena R

The Solana price has recorded a jump of over 13% within the past 24 hours, making it one of the top gainers of the day in the crypto industry. Further, the SOL token is currently trading at a 20-month high as it is on the verge of achieving its year target of $85.

Moreover, Solana successfully overtakes Ripple’s XRP token, indicating a strong on-chain sentiment for this token. 

The SOL coin price constantly traded in a consolidated range between $54.01 and $59.73 for over a week, after which the bulls gained power and the price broke out of the resistance level. The rally was short-lived as the price faced rejection at $65.90, following which the Solana traded in a closed range for a while.

After multiple attempts, the market regained momentum and the bulls jumped over 20% before facing rejection at $79.65. Following this the price started trading under a bearish influence and displayed a correction of approximately 22% in value.

The bulls held the price high above the support level of $62.81, resulting in a bounce back in the price. The Solana coin price faced another rejection at $79.65 after which it experienced a correction of 15%.

Recently, the bulls regained momentum and displayed a jump of 10% after which the price hovered around the support/resistance level of $75 for a while. Further, the SOL coin price has jumped 13% within the past day, resulting in the token recording a new yearly high in its price.

Will SOL Price Go Up?

The Moving Average Convergence Divergence (MACD) displays a constant rise in the histogram, indicating an increasing buying-over-selling pressure in the market. Further, the averages show a sharp rise, suggesting the price will continue gaining value in the coming time.

If the bulls push the price above the key resistance level of $85, the SOL price will continue gaining value and test its upper resistance level of $90 in the coming days. Maintaining the price at that level will set the stage for the Solana token to attempt to test its upper limit of $100 by the month-end.

Conversely, if a trend reversal occurs, the Solana token will lose momentum and fall to test its support level of $75 in the coming days. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $70 this month.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

XRP Price May Soar to $17 with Emerging Pattern

XRP is currently trading at $2.12, staying above the important $2.00 support level. It’s up…

April 5, 2025

Solana Price Prediction: Potential Rally to $180 as SOL Finds Strength in Whale Buys

In the category of United States-made crypto assets, Solana (SOL) remains one of the most…

April 5, 2025

Fed Holds Interest Rates, Trump’s Tariffs Rock Markets—But Bitcoin and XRP Defy Odds

Despite a sharp market sell-off following the president’s tariff announcement, the Federal Reserve isn’t rushing…

April 5, 2025

Pi Network Faces Growing Criticism as Delays, Price Dips, and Frustrations Mount

Pi Network is facing growing criticism from its community and developers. The coin that saw…

April 5, 2025

XRP News Today: Price Rises 4%, Ripple Outpaces BTC and ETH in South Korea

After dipping to a low of $1.96, XRP has made a strong comeback, gaining more…

April 5, 2025

Ripple Lawsuit News: Ex-SEC Lawyer Reacts to Unusual XRP Filing by $10M Fined Stock Dealer

Ripple’s CEO, Brad Garlinghouse, recently shared a video celebrating what he called a victory in…

April 5, 2025