Reason to trust
Strictly editorial policy that focuses on accuracy, relevance and impartiality
Made by experts from the industry and carefully assessed
The highest standards in reporting and publishing
Strictly editorial policy that focuses on accuracy, relevance and impartiality
Morbi Pretium Leo et Nisl Aliquam Mollis. Quisque Arcu Lorem, Ultricies Quis Pellentesque NEC, Ullamcorper Eu Odio.
Este Artículo También Está Disponible and Español.
Solana still stands for a lot of resistance And it seems that the goal of $ 200 is becoming more difficult to achieve. This is made more difficult by the Bearish -market winds, and declining participation of investors in online activities. As such, the Solana price is still struggling to stay above $ 150.
However, since there is a turn in the market sentiment to the positive, the Solana price can be on its way to a fast rebound. This is reflected by crypto analysts who have predicted that the Altcoin will still have room to walk and one in particular suggests that new of all time is even highs possible.
Why the Solana Price is Bullish
Crypto -analysts Handelshot has explained Why the Solana Prize has been bullish lately. In a recent analysis, they explain that the rebound has shown strength in the digital active in early April. This came when Solana bounced at the beginning of last month of the 1-week MA200, and this bullish starts continued until the end of the month.
Related lecture
With Het Momentum, the Altcoin abandoned several weekly closures and finally closed the month of April with a green weekly candle. This has set it on a path in the direction of the next critical level, which is on the 1-week MA50 and the blue trend line follows at around $ 170, as shown in the graph below.
This level is now the most important point to break if Solana has to continue its Bullish Run in the month of May. The interesting of this level, as the Crypto analyst explains, is that if the SOL price can overcome it, it is expected to be supported for the Altcoin. Support for $ 170 would be pretty bullish for the Solana price, which again serves as a possible stroking point to $ 200.
Goals from here
As mentioned above, the first that the Solana price actually tests and break the Blue Trend Line at $ 170. If this is successful and the soil is in, then the next big goal of here is the level of $ 350. The Crypto analyst explains that this goal of $ 350 is the higher high of the wig.
Related lecture
Then a clean break above $ 350 puts it on a clear path to $ 900 because it sets higher highlights. “Given that the recent correction of 3 months was -67.23%, identical to the last correction (May 2021) of the previous cycle, we expect a last rally from the 2.0 Fibonacci extension to $ 900, when the higher trend-line trend line breaks,” Tradeshot said.
Featured image of dall.e, graph of tradingview.com
Credit : www.newsbtc.com
