Solana Price Prediction: Analyst Says SOL Will Pump Like AVAX As Traders Flock To The Hidden Potential Of This AI-Based Platform.

adminDecember 14, 2023

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Solana prices sudden drop The altcoin is up more than 5% in the past 24 hours, trading at $67.11 as of 8:40 a.m. EST, as investors take advantage of the altcoin’s positive weekly performance.

Analysts believe that Solana prices will rise soon.

$sol div brewing here after hitting flash crash lows on Monday.
Return received pic.twitter.com/EMdS8e6DwR
— Bluntz (@Bluntz_Capital) December 13, 2023

Household analyst Bluntz believes Solana Price will soon follow the Avalanche (Avex) has recorded a phenomenal rise of over 90% over the past month.

“AVAX is now catching up well and is ahead of SOL by a mile, both have the same structure but AVAX is moving faster and faster. But it’s a good glimpse into the future of what’s to come,” the analyst said.

Solana Price: Tech Experts Suggest a Short-Term Decline

TradingView Charts

SOL/USDT daily chart (Source: TradingView)

that much Solana The price has been trading in a positive price channel for the past three weeks and is moving towards the lower level of this channel at $60. A fall below this price range could lead to a continued decline towards the immediate support level of $49.65 over the next few days.

On the other hand, if it can stay within the price channel over the next 48 hours, it could attempt to reclaim its position above the $70 barrier.

If the daily candle closes above $70, traders can be viewed as entering a long position. This potential buying volume could push Solana price towards the key resistance level of $100.

technical indicators S.O.L.’s The daily chart suggested that the price may continue to decline over the next 24-48 hours. Traders and investors will want to keep an eye on the daily Relative Strength Index (RSI) indicator.

Over the past 72 hours, the RSI line has broken below the RSI simple moving average (SMA) line. These technical events usually indicate a change in trading power in favor of the downtrend. As a result, over the next 48 hours it will be easier for sellers to lower the price of Solana than for buyers to raise it.

There is also an important technical flag that is on the verge of being triggered by the Moving Average Convergence Divergence (MACD) indicator. The MACD line was about to cross below the MACD signal line. If these two lines cross soon, it could be a sign that SOL’s negative trend will continue in the near term.

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