Solana (SOL) Price Analysis: More Gains Possible Above $110

BitcoinSolana (SOL) Price Analysis: More Gains Possible Above $110


  • Solana price extended decline below the $100 support against the US Dollar.
  • The price is now back above $100 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $102 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase).
  • The pair must clear $110 to continue higher in the near term.

Solana price is recovering above $100 against the US Dollar, similar to bitcoin. SOL could gain pace if there is a clear move above the $110 level.

Solana (SOL) Price Analysis

SOL price attempted an upside break above the $110 level, but failed. As a result, it started a fresh decline below the $102 and $100 support levels.

The pair even settled below the $110 support zone and the 55 simple moving average (4-hours). It even spiked below the $95 level and traded as low as $94.96. It is now correcting losses and trading above $100. There was a break above a major bearish trend line with resistance near $102 on the 4-hours chart of the SOL/USD pair.

The pair surpassed the 23.6% Fib retracement level of the downward move from the $144 swing high to $94 swing low. On the upside, an immediate resistance is near the $110 level.

The next major resistance on the upside is near the $118.00 level. The main resistance sits near the $120 level. It is near the 50% Fib retracement level of the downward move from the $144 swing high to $94 swing low. To start another increase, the price must settle above the $110.00 and $120.00 levels in the near term.

The next major resistance could be $132.00, above which the price could rise to $140.00. On the downside, there is a key support near $102 and the 55 simple moving average (4-hours).

The next key support is near the $98 level. A downside break below the $98 support level might spark a sharp decline. In the stated case, the price may perhaps decline towards the $85 level.

Solana (SOL) Price

Looking at the chart, solana price is clearly trading above $100.00 and the 55 simple moving average (4-hours). Overall, the price must clear $110 to continue higher in the near term.

Technical Indicators

4 hours MACD – The MACD is now losing momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.

Key Support Levels – $102.00 and $98.00.

Key Resistance Levels – $110.00, $120.00 and $140.00.

Tags: SOL, Solana



Learn more

Latest news

After Cardano (ADA), DCG Subsidiary Luno Adds Support for Solana (SOL)

Alex Dovbnya Cryptocurrency exchange Luno has listed Solana (SOL) cryptocurrency shortly after adding Cardano (ADA) Cryptocurrency exchange Luno has added...

Zcash May Be Getting Spammed, but the Blockchain is Doing Just Fine, the Company Behind it Says

The Electronic Coin Company, the organization behind Zcash, claims that concerns of a spam attack are mostly just...

Kanye West unloads on Josh Kushner over investment in Kim Kardashian’s SKIMS

Kanye West unloaded on Josh Kushner over his investments in Kim Kardashian’s underwear line in a bizarre...

DOGE and SHIB Price Analysis for October 6

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It...

Must read

After Cardano (ADA), DCG Subsidiary Luno Adds Support for Solana (SOL)

Alex Dovbnya Cryptocurrency exchange Luno has listed Solana (SOL)...

Zcash May Be Getting Spammed, but the Blockchain is Doing Just Fine, the Company Behind it Says

The Electronic Coin Company, the organization behind Zcash,...

Kanye West unloads on Josh Kushner over investment in Kim Kardashian’s SKIMS

Kanye West unloaded on Josh Kushner over his...

You might also likeRELATED
Recommended to you