The post Solana (SOL) Price Prediction for March 1 appeared on BitcoinEthereumNews.com.

The current price of Solana (SOL) is $141.15, which comes after a notable 3.94% decline in the past 24 hours, indicating a recent pullback. Moreover, over the past week, SOL has dropped by 18.42%, reflecting ongoing bearish pressure in the short term. Despite these setbacks, certain technical indicators suggest that the market might be setting the stage for a recovery, provided key support levels hold. Solana Price Analysis Recent charts show that SOL has established robust support in the $135 to $141 range. This support zone is crucial, as it has historically acted as a floor during downturns, where buyers have stepped in to defend the price. Maintaining this support is essential for any recovery. On the upside, resistance is currently identified between $145 and $150. A decisive breakthrough above this resistance could trigger renewed bullish momentum, attracting both retail and institutional investors to take long positions. The 50-day Moving Average (MA) is an important short- to mid-term indicator. SOL’s current trading price is near this MA, suggesting that the market is in a consolidation phase. A sustained move above the 50-day MA would be a positive signal for bullish momentum. The 200-day MA is a key long-term trend indicator. Currently, SOL is trading below its 200-day MA, which implies that the long-term bearish trend is still in effect. However, if SOL can break and hold above this level, it would be a significant bullish signal and might attract long-term investors. The MACD is showing signs of convergence, with the MACD line gradually approaching the signal line. This pattern often precedes a bullish crossover, which would provide confirmation of a potential upward trend. Traders are watching for such a crossover as it could serve as a catalyst for further price recovery. Solana Price Prediction With strong support in the $135–$141…

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Filed under: News - @ March 2, 2025 1:24 am