Expectations for Solana Price as $6.5 Billion Trading Volume Pushes SOL Over $140
Solana exemplifies strong market performance with a price rise to $151.34 and a substantial 24-hour trading volume of $2.97 billion.
With a 5% gain in the last day, Solana's market size is now at over $67.62 billion, making it the sixth biggest by market cap.
Solana price forecasts are becoming more and more hopeful as market observers attentively track these occurrences. Let's take a look at Solana's technical outlook.
Estimate of Solana's Value
At $147.20, Solana has a pivot point; at $164.56, there is immediate resistance; and at $185.94 and $204.26, there are more barriers.
If the current trend persists, breaking these hurdles might signal a more robust bullish move for Solana.
The levels of assistance, on the other hand, are $126.23, $110.96 and $92.64. If negative pressures do materialize, these levels might serve as important support and resistance levels.
Solana is approaching oversold circumstances, which might lead to buying activity if the price drops further, according to the Relative Strength Index (RSI), which is now at 39.
Estimate of Solana's Value
Estimate of Solana's Value
Another possible obstacle might be the $156.28 50-Day Exponential Moving Average (EMA).
Given how close the exponential moving average is to the current price, it seems that Solana is approaching important technical levels.
Finally, although Solana's current price action is positive above the $147.20 pivot, a decline below this level would set off a more severe sell-off.
The market might continue to rise if these levels break, but if they don't, Solana could go back to lower support zones, so traders and investors will be keeping a careful eye on it.
The 50-day exponential moving average (EMA) provides resistance, but the question is if Solana can maintain its upward momentum in the face of overall market circumstances.
