Sol explodes 60 %every week, but how high can it be? (Solana price analysis)

Sol explodes 60 %every week, but how high can it be? (Solana price analysis)

The Solana price has doubled since the end of December, and the bulls continue to control the price movements.

Important support levels: $ 20

Important resistance levels: $ 27

Sol has managed to fully compensate for most of the decline that began in November 2022. At this pace, the buyers seem to be trying to return the price to the level before the FTX collapse.

In order to maintain this positive dynamic, cryptocurrency must break the key resistance at $ 27. Sellers are still absent, but if they return, the most important support is $ 20.

Diagram of TradingView

trading volume: The purchase volume reaches higher maximum. This is bullish. As long as it goes on, there is no longer a back for buyers.

rsi : The daily RSI reached almost 90 points. This shows that the purchase pressure is high, but also serves as a warning that this momentum is difficult to maintain for a long time.

macd : The day macd is bullish, but the histogram seems to be felled off. This can indicate that buyers lose strength.

Diagram of Tradingview

bias

The tendency for Sol is bullish.

Short-term prediction for the SOL Prize

It is known that such parabolic movements bring an equally strong retrace. Therefore, buyers have to be on the hat, as the price could turn around quickly at any time and the sellers could be obliged. It is important to stay vigilant.

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