Solana (SOL) is trading at $172.84, down 0.53% in the last 24 hours, with a 24-hour trading volume of $2.19 billion. Ranked #5, Solana has a market cap of $77.59 billion and a circulating supply of 448.92 million SOL coins.
This Solana price prediction examines whether SOL can maintain its push toward $170 and potentially reach $1,000 by June.
Solana Price Prediction
Solana‘s 4-hour chart highlights the pivot point at $171.79, which is critical for Solana’s near-term price action. Immediate resistance is identified at $176.66, followed by $183.26 and $188.53.
On the downside, immediate support is found at $165.72, with further support levels at $156.75 and $151.08. The Relative Strength Index (RSI) stands at 73, indicating overbought conditions.
The 50-day Exponential Moving Average (EMA) is positioned at $155.79, supporting the overall uptrend.
The upward channel supports the current bullish trend, but resistance is emerging around the $175 mark. The trendline extending through this level indicates a potential barrier to further price gains.
On the lower side, the $171.79 pivot point is crucial, acting as immediate support. If Solana maintains its position above this pivot point, it could support continued upward momentum.
However, a break below $171.79 could trigger a sharp selling trend, pushing the price towards the next support levels at $165.72, $156.75, and $151.08. The market’s reaction to these key levels will be vital in determining the near-term direction of Solana’s price.
In conclusion, Solana’s technical outlook remains bullish as long as it stays above the $171.79 pivot point. The immediate resistance at $176.66 will be the first hurdle to overcome, followed by $183.26 and $188.53.
The RSI’s high value suggests caution, as overbought conditions may lead to a pullback. The 50-day EMA at $155.79 provides a solid base for the ongoing uptrend.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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