Price Analysis

Solana Look for Bull’s Resurgence, SOL Price’s Path Towards $150 Maybe Cleared Now!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Apr 26, 2022

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Highlights

    Solana price after refusing to slide down below $100 from a couple of days manifests its tendency to range high at the earliest

    The asset is expected to breakout from the current consolidation and clear the upper resistance at $104 to eventually test the crucial resistance at $135

    This may be when the SOL price path towards the $150 may appear pretty clear as the probability of resuming SOL bull run may be high then

Solana’s price is holding the $100 region for more than 10 days, showcasing its tendency to rise high nullifying the impact of the bears. However, the asset may in safe hands if it pushes itself slightly to secure immediate resistance levels at $105. And hence the market participants may not take the SOL price rally lightly as it may be a calm before the storm. 

The market for the Solana price appears to be pretty stagnant over the past couple of days and hence it appears that the assets may not make a larger move. However, the range-bound consolidation for the SOL price may be eased anytime from now igniting a larger move. Moreover, as the institutional investments in Solana have spiked, one can expect a significant spike in the upcoming days. 

Solana for the past couple of days appears to have to wait for acute buying pressure which may raise the price from the current consolidation below $104. However, even if a bullish trend spikes up, the price needs to test the crucial $118 level to validate an uptrend. And moreover, a spike leading the price to test and clear the $136 levels may nullify the bearish trend at the maximum. 

On the contrary, if the SOL price falls prey to the hands of bears as its range-bound consolidation does point toward a descending trend. And hence if the price slides down then a huge chance of testing lower support at $80 is pretty high. And in such a case, Solana’s price may require more time to recover back above $100 again. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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