This Is How Will Solana Price Can Hit $160 in the Coming Days
The post This Is How Will Solana Price Can Hit $160 in the Coming Days appeared on BitcoinEthereumNews.com.
Solana’s (SOL) price has been in a phase of macro consolidation, fluctuating between $124 and $186 for some time. The key resistance level at $160 is critical for SOL’s price action in the near future. While some indicators point to a potential rise, the momentum may not be strong enough to push the altcoin beyond $160. However, market signals continue to suggest that a price surge toward this level is becoming increasingly likely. Broader Market Cues Favour Solana The market sentiment around Solana is currently leaning bullish, as the Bollinger Bands are tightening, a pattern that often signals a potential price rise. The candlesticks are positioned above the baseline of the Bollinger Bands, indicating upward momentum building in SOL. Additionally, trading volume remains low, which can precede major price movements. This combination of factors suggests that Solana could soon experience a price jump, potentially pushing it closer to the $160 resistance level. Read more: 11 Top Solana Meme Coins to Watch in August 2024 Solana Bollinger Bands. Source: TradingView From a broader perspective, Solana’s macro momentum appears strong. The Moving Average Convergence Divergence (MACD) indicator shows a growing gap between the MACD line and the signal line, following a recent bullish crossover. This widening gap is often interpreted as a signal of impending significant price movement. With Solana currently testing key resistance levels, such as $136, the widening MACD gap suggests that the altcoin could be poised for an upward trend in the coming days. Solana MACD. Source: TradingView SOL Price Prediction: New Day, Same Range Solana’s price is currently attempting to flip the $136 level into a strong support zone, having bounced off $124. If successful, this could provide the necessary momentum to push SOL upwards toward the critical $160 resistance level. Once the local barrier of $155 is breached, Solana’s price…
Filed under: News - @ September 14, 2024 2:14 pm