SOLANA Price Prediction, Will the Momentum Hold or Take a Breather
- SOL traders witness the highest short liquidations in three months as the altcoin approaches a crucial price level.
- Solana's price surges 16% in 24 hours, reaching $99.49 after Trezor announces wallet support.
- SOL token, trading at a 20-month high, encounters resistance near the key $100 level.
If SOLANA breaks $100 resistance, it may rise further.
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According to Coingabbar Price Analysis, SOL reached a peak exceeding $95, marking its highest point in 20 months.
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Sol's price experienced a strong recovery post breaking the descending trendline on December 20th.
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SOL , supported by institutional investors, approaches $100, securing the fourth position with a $42 billion market cap, surpassing XRP.
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The daily chart illustrates a robust rally after breaching the Wedge pattern, reaching a high close to $100.
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On the weekly chart, Solana displays a Rounding Bottom Pattern, contributing to its upward surge.
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The potential for SOL to experience further growth remains high following its successful clearance of the $100 resistance levels.
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As SOL nears the psychological level of $100, traders are advised caution, considering a possible retracement.
KEY LEVELS :
RESISTANCE LEVEL : $97.00-$100.00
SUPPORT LEVEL : $91.00-$88.00
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
