Read full article at Coingape.

Solana Could Become The ‘Visa Of Crypto,’ Bank Of America Strategist Says

Solana’s price remains higher and oscillates in a trading range. The digital currency faces upside pressure near $157.87. However, sellers failed to capitalize on the downside trend. The current market cap is $46,634,116,790 USD in the past 24-hours.

  • Solana (SOL) gains remain consolidated in a tight range.
  • SOL bulls are not ready to give up easily, price action suggests upside continuation.
  • The momentum oscillators trade in a bullish trajectory.

Solana struggles below $150 inside the downward channel

SOL has shown some bottom buying from the lows of $130.93 with almost 20% gains in just 3 days. However, the bulls face some resistance near $157. The price consolidates in a trading range of $134 and $144 since January 7, the range breaks on January 12. The rising PVT (Price Volume Trend) indicator supports the underlying bullish current.

Source: Trading view

On the 4-hour chart, The RSI (Relative Strength Index) trades at 55 with a bullish crossover, which indicates the price could move beyond Thursday’s high. Market participant next looks to move towards the $170 psychological mark.

Source: Trading view

On the daily chart, Solana’s (SOL) price has taken support near $131.32 and moved back to $150. A daily close above the January 13 high of $157.87 would motivate bulls to take out the high of January 5, which is placed at $171.26. On the other hand, if SOL trades below $141.91, the low of January 14 then it would negate the continuation of the upside momentum. However, the rising momentum oscillator and stable volumes suggest that bulls are not in a mood to give up easily. In the short term, the upside till the level of $181 is not ruled out.

The post SOLANA (SOL) Price Looks Validation Above $150 Rises 12% In Past 7 Days appeared first on CoinGape.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency

Categories:

Tags:

Comments are closed

Translate

Our Other Projects

EdgyBranding.com - Premium Domain Names.

Notezi.com - Social Network

ParisArtwork.org - Mid-century Paris NFTs, tokenized on the WAX blockchain.

NewYorkArtwork.org - Mid-century New York NFTs, tokenized on the Ethereum blockchain and offered on Rarible.

ClassicAutomobile.org - Classic Automobile News.