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Solana price prediction: SOL price could break out bullish now!

 


The Solana price could now break out bullishly and in the course of this rise around 50% to reach the USD 70 mark.


Solana price could now break out bullish and up around 50%

Solana price is forming a series of higher lows and is back above the 50-day EMA and just below the golden ratio resistance around $46 where SOL price was rejected twice earlier. If Solana breaks the golden ratio resistance this time, Solana could rally around 50% to rally to the 200-day EMA or even the 0.382 Fib level at the USD 70 level.


In addition, the MACD in the daily chart is clearly bullish because the histogram is ticking bullishly higher and the MACD lines are crossed bullishly. The RSI is neutral and gives neither bullish nor bearish signals.


In the weekly chart, the MACD is clearly bullish

The MACD is also bullish in the weekly chart, because the histogram has been ticking bullishly higher for weeks and the MACD lines crossed bullishly a few days ago. If Solana clears the 0.382 Fib level around $70, Solana will find the next significant resistance at the 50-week EMA around $77. That implies upside potential of around 73%.


In addition, the RSI is also neutral in the weekly chart.


Horizontal resistance still awaits Solana price

The monthly chart shows that horizontal resistance is still waiting for the SOL course between USD 48.5 and USD 58.4. However, if the golden ratio breaks at around USD 46, an increase to around USD 70 is likely.


For a bullish trend reversal with chances of new highs, Solana must first clear the golden ratio at around $180. Until then, there are still some resistances waiting for the SOL course.


However, should SOL be rejected again bearishly at the golden ratio around USD 46, significant Fib supports await the SOL course at around USD 39 and USD 34.


Against BTC, the SOL price is floating between 0.382 Fib levels

Against BTC, SOL has been between the 0.382 Fib resistance at around 0.00184 BTC and the 0.382 Fib support at around 0.00172 BTC for over seven weeks. If the 0.382 Fib support breaks, around 14% lower important golden ratio support awaits around 0.00145 BTC.


If SOL price breaks the 0.382 Fib resistance, SOL could rally to the 50-week EMA around 0.00205 BTC, where SOL was already bearishly rejected a few weeks ago. That implies upside potential of around 12%.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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