SOL Soars Past $100, but How High Can it Go? Three Things to Watch This Week (Solana Price Analysis)

Solana broke the key resistance and is preparing for higher levels. Key Support levels: $104 Key Resistance levels: $126 1. Key Resistance Broken The resistance at $104 finally broke and the price managed to rally briefly to $110. Since then, Solana entered a pullback and is now testing $104 as support. If this level holds, […]

Feb 12, 2024 - 16:30
 0  7
SOL Soars Past $100, but How High Can it Go? Three Things to Watch This Week (Solana Price Analysis)

Solana broke the key resistance and is preparing for higher levels.

Key Support levels: $104

Key Resistance levels: $126

1. Key Resistance Broken

The resistance at $104 finally broke and the price managed to rally briefly to $110. Since then, Solana entered a pullback and is now testing $104 as support. If this level holds, then the price has a clear path higher.

SOLUSDT_2024-02-12_15-35-28
Chart by TradingView

2. Next Target

The high from late December is the current target at $126. Sellers came in strong at that price level, but they may face a stiff battle from buyers this time around, especially if momentum continues to build up.

SOLUSDT_2024-02-12_15-30-31
Chart by TradingView

3. MACD Bullish Cross

The two-day MACD has made a bullish cross and that signals a reversal in the momentum. If buyers continue to keep up the pressure, then this could turn into a sustained rally to higher levels.

SOLUSDT_2024-02-12_15-31-21
Chart by TradingView

Bias

The bias for SOL is bullish.

Short-Term Prediction for SOL Price

If Solana is successful in turning the $104 level into a key support, then bulls have a good chance to take the price to $126 next.

The post SOL Soars Past $100, but How High Can it Go? Three Things to Watch This Week (Solana Price Analysis) appeared first on CryptoPotato.