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Solana Price Analysis: SOL/USD set to spike above $100 soon


  • Solana price analysis is bullish today.
  • SOL/USD is currently trading at $96
  • Daily support is at $85

Today’s Solana price analysis is bullish, as we anticipate the current consolidation to come to an end with a break above $100 resistance. We think there will be considerably more upside next week if the breakout is booming today.

In our opinion, the price is heading towards a break above $100 as there are no resistance levels that can stop it from reaching that point.

SOL/USD price movement n the last 24 hours: Possible bullish reversal?

SOL/USD pair is trading at $90.32, and our candlestick pattern recognition engine already detects a bullish trend coming to the fore with 0 indicators showing a bearish trend, so we’re bullish on SOL/USD.

Solana Price Analysis: SOL/USD set to spike above $100 soon 1
1-day chart. Source: TradingView

However, today there was considerable buying activity at this zone after a support level at $85 stopped today’s downside movement in its tracks. The price moved up to about $89 before consolidating again, forming a symmetrical triangle pattern on the hourly chart, which could lead to another breakout above yesterday’s high of $90.54 in the direction of the next resistance zone in the range between $98-100+).

Today’s SOL analysis shows that price is in a bullish trend, so we expect much more upside in SOL price next week if today’s breakout succeeds.

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Hence, for this week, it seems like SOL/USD can move towards trading at the $100-$120 range, with only a few dips expected before a decisive climbing period begins to take place.

SOL/USD 4-hour chart: SOL looks to break higher?

On the 4-hour chart, the price of Solana has broken above the resistance at $85, signaling a bullish trend for today’s SOL/USD analysis.

Solana Price Analysis: SOL/USD set to spike above $100 soon 2
SOL/USD 4-hour chart. Source: TradingView

The price is now above the 23.6% Fibonacci retracement level at $88.08, breaking towards $100 resistance.

The 100 EMA line trading at $86 positions the current price well above it, so there’s no sign of any significant downward correction any time soon.

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The MACD indicator is in the bullish zone, with its signal line giving a strong buy signal after crossing above the MACD line over the weekend.

The Bollinger Bands favor further upside with them widening due to volatility.

The Awesome Oscillator doesn’t register a positive change yet, so we think it’s about to do so in favor of our prediction for $100 resistance today.

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Solana Price Analysis: Conclusion 

If our analysis is correct, we expect the price to hit $100 soon and trade there before another bullish movement occurs. 

Next week, we expect further upside if the consolidation ends, with the target around $100+ and possibly after hitting lower resistance levels around $98-$100, which could be tested during this week (mid-week).

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