No products in the cart.
Solana (SOL) is targeting $100 in the days ahead – Here is how this will happen
Despite various bearish predictions over the last three weeks, Solana (SOL) has remained quite resilient. The coin has lost and regained important support zones and now it seems like it is finally ready to rise again. But how feasible is the $100 mark? More details to follow but these are the facts you need to keep in mind:
Solana is looking to test overhead resistance of $90.
A close above that price will push the altcoin higher than $100 in the near term.
At press time, Solana was trading at $85, down around 4% in 24-hour trading.
Data Source: Tradingview
Solana (SOL) – how fast can it hit $100?
Solana (SOL) has shown some impressive resilience. Although the analysis in recent weeks was very bearish, SOL bulls have come out strong. As a result, the altcoin has regained several key support zones in the last week or so.
The biggest challenge now will be to find enough momentum to push through $90. If bulls do this, then the coin will surge above $100 in the near term. At the time of writing, SOL was trading at $85.
Despite this, in previous sessions, the zone between $90 and $95 has proved to be a crucial supply area. Every time SOL has managed to hit this threshold, it has repeatedly pulled back. But this time around, it is likely that bulls will convert $90 – $95 into a short-term demand zone to support the rally above $100.
What is the long term outlook of Solana (SOL)
Recent headwinds in the crypto market have made a lot of coins weaker. Solana in particular has fallen from its 2021 highs of nearly $200.
But this does not change the long-term outlook of this altcoin. SOL is still destined for great success and is one of the “blue chip” crypto tokens you can buy.
The post Solana (SOL) is targeting $100 in the days ahead – Here is how this will happen appeared first on Coin Journal.
- May 2022 (201)
- April 2022 (367)
- March 2022 (505)
- February 2022 (455)
- January 2022 (435)
- December 2021 (428)
- November 2021 (367)
- October 2021 (359)
- September 2021 (357)
- August 2021 (126)
- July 2021 (21)
- June 2021 (19)
- May 2021 (4)
- April 2021 (6)
- March 2021 (23)
- February 2021 (23)
- January 2021 (27)
- August 2020 (1)
- July 2020 (7)
- June 2020 (1)
- April 2020 (2)
- Bitcoin Market Plunges Into Extreme Fear, How Scary Does It Get?
- This Analyst Believes Ethereum May Lose 80% Of Its Value
- How The Tether Peg Could Predict Raging Bitcoin Volatility
- How Web 3.0 Can Help YouTube Content Creators
- Institutional Investors Flood Over $300 Million In Bitcoin Fund, BTC To Reverse Above $30k?