Is SOL About to Explode Above $100? Three Things to Watch This Week (Solana Price Analysis)
Solana appears to be towards the end of its consolidation and may attempt to break into $100 again.
Key Support levels: $78
Key Resistance levels: $104
1. Bulls About to Return
Solana was on the verge of charting another lower low, but buyers returned to stop that from happening. As a result, SOL made a higher low, and the price action shows signs it may want to test the resistance at $104.
2. Preparation for a Breakout
If the price gets back above $100, then the key resistance will struggle to stop bulls, and Solana may enter a renewed uptrend. This most recent correction appears to be ending, which would support such a move.
3. MACD Turning Bullish
The 12h MACD is hours away from a bullish cross. If confirmed, then buyers have the upper hand, and SOL will likely return to a three-digit valuation. Watch closely the price action for that signal.
Bias
The bias for SOL is neutral.
Short-Term Prediction for SOL Price
The bias will change to bullish if the key resistance at $104 breaks. Until then, pressure may be building up under this key level, which could lead to increased volatility this week.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Morgan Stanley’s $50.6M BTC buying shields market – But rally to $82K has THIS hurdle
Will the Fed "continue raising interest rates"? Will the "tightening cycle" of the late 1980s be repeated?
The Citi report points out that the current macro environment is highly similar to the tightening cycle of 1988-1989, when the economy remained resilient and inflation pressures gradually accumulated, followed by a slowdown in economic activity before policies shifted to easing. During that tightening cycle, the Federal Reserve raised interest rates 16 times in a row.
Rare alliance of arch-rivals! Musk and Altman support Dario Amodei's call to "slow down AI globally"
Anthropic's Amodei issued a call to "slow down AI globally," and to everyone's surprise, rivals Musk and Altman both publicly endorsed the initiative. The three industry giants unanimously agreed to grant third-party access to "employee-level" evaluation rights and to implement coordinated deceleration measures. Altman went further, announcing that OpenAI will not IPO this year. The resignation of a researcher and a collective breakout of uncontrollable AI systems have ignited long-standing industry fears.
Bitcoin vs Ethereum ETFs: Which asset is winning September’s flow battle?
Crypto prices
More
