Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Is SOL About to Explode Above $100? Three Things to Watch This Week (Solana Price Analysis)

Is SOL About to Explode Above $100? Three Things to Watch This Week (Solana Price Analysis)

CryptopotatoCryptopotato2024/01/16 13:55
By:Duo NineMore posts by this author

Solana appears to be towards the end of its consolidation and may attempt to break into $100 again.

Key Support levels: $78

Key Resistance levels: $104 

1. Bulls About to Return

Solana was on the verge of charting another lower low, but buyers returned to stop that from happening. As a result, SOL made a higher low, and the price action shows signs it may want to test the resistance at $104.

2. Preparation for a Breakout

If the price gets back above $100, then the key resistance will struggle to stop bulls, and Solana may enter a renewed uptrend. This most recent correction appears to be ending, which would support such a move.

3. MACD Turning Bullish

The 12h MACD is hours away from a bullish cross. If confirmed, then buyers have the upper hand, and SOL will likely return to a three-digit valuation. Watch closely the price action for that signal.

Bias

The bias for SOL is neutral.

Short-Term Prediction for SOL Price

The bias will change to bullish if the key resistance at $104 breaks. Until then, pressure may be building up under this key level, which could lead to increased volatility this week.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

No wonder Buffett finally bet on Google

Google holds the entire chain in its own hands. It does not rely on Nvidia and possesses efficient, low-cost computational sovereignty.

深潮2025/11/29 05:56
No wonder Buffett finally bet on Google