Price Analysis

Will Solana Price hit $100 in Q3, Here’s What a Popular Analyst Has to Say!

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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Jul 22, 2022

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While many of the assets have made a large move since the beginning of the weekly trade, Solana‘s price remained pretty consolidated. Multiple attempts ranging beyond $45 resulted in a significant drop that may have fueled the recent rejection from $47.36 levels. However, the SOL price still appears to be pretty bullish and may range high toward $60 if sustains strong above certain levels. 

The SOL price is trading below one of the important resistance at $59 for a pretty long time. Therefore, after experiencing extreme bearish pressure, the asset may break out of consolidation, surging beyond $60. But the bears who mounted the pressure may eventually jump in action and slash the price back to the present range. 

Nullifying the bearish impact, the Solana price appears to be primed to rise beyond $60 initially and later test $80. 

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However, Bitcoin needs to be strong if Solana or the other altcoins are required to maintain a significant upswing ahead. On the hand, the asset appears to be well in place, acting as per the plan. The price successfully tested the immediate resistance and despite a rejection is expected to bounce from the local support at $38. 

With the rebound, the price is expected to test the higher FIB levels at $54 and later at $60, slicing through the immediate levels at $46. 

Collectively, the present drop just appears to be a minor correction that could reach its destiny with a push. Therefore, Solana’s (SOL) price is expected to rebound finely at the earliest and eventually head towards its main target at $100. 

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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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