Key Support levels: $78, $56
Key Resistance level: $100, $130
In the past week, SOL has managed to find good support on the $78 level, from where price has now moved on the offensive towards the key resistance at $100. So far, buyers faced little resistance, but their resilience is about to be tested.
Trading Volume: The volume throughout this rally has been sustainable, which allowed the cryptocurrency to approach the $100 target.
RSI: The RSI is moving higher from its mid-point at 50 and has set a higher high. This is a good sign, and there is plenty of room left for it to move higher before becoming overbought (over 70).
MACD: The daily MACD is bullish, with the histogram making higher highs as well. Momentum is clearly on the buyers’ side right now.
The current bias is bullish.
Short-Term Prediction for SOL Price
At this time, it seems likely that we will see SOL test the key resistance at $100 before any serious attempt by the bears to push the price into a correction. Bulls will need more volume to manage a breakout above this key level.
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Cryptocurrency charts by TradingView.