- Solana price prediction showcases the recovery phase of Solana price inside an interesting channel over the daily time frame chart.
- SOL crypto is trying to remain above 20, 50 and 100-days Daily Moving Average and reach 200-days DMA.
- The pair of SOL/BTC was at 0.000796 BTC and has gained 0.23% during the intraday trading session.
Solana price prediction showcases the recovery phase of Solana price inside an ascending parallel channel over the daily time frame chart. SOL crypto price has been trading inside the rising parallel channel after getting support from the $16.04 level on 10th March. Meanwhile, analysts also confirm the maximum recovery of SOL crypto during 2023.
Solana price prediction confirms the recovery of SOL crypto price towards $25 recovery level with a significant recovery rate. Solana price has recovered around 15.31% in a week confirming the facts of its recovery through the ascending parallel channel and the analyst’s analogy of maximum recovery.
Solana price was at $22.44 and has gained 4.57% of its market capitalization during the day’s trading session. Trading volume has increased 55% during the intraday trading session. This demonstrates that buyers are accumulating to push Solana price towards the $25 recovery level. Volume to market cap ratio was at 0.1008.
Solana price prediction hints towards the maximum recovery of SOL crypto price and reach above $25 recovery level. Meanwhile, trading volume is also increasing showcasing the interest of buyers towards the trade.
SOL gained 124% Year to Date, $40 Incoming?
Solana price must maintain the current accumulation rate in order to recover maximum towards the $25 recovery level. Solana price prediction highlights some interesting levels to be attained by SOL crypto in order to reach $25 recovery level.
Solana price must recover above $23.30 primary resistance level in order to reach the $25 recovery level through the current rising parallel channel. Afterwards, Solana price needs to break out of the resistance level of $26.80 in order to remain above $25 and initiate its recovery towards the $40 recovery level.
Solana Price Prediction: Technical Indications!
Technical indicators suggest the uptrend momentum of SOL crypto price over the daily time frame chart. Relative strength index showcases the upside trend of Solana price. RSI was at 55 and is heading towards the overbought territory.
MACD exhibits the upward velocity of Solana price. The MACD line is above the signal line after a positive crossover. Investors in SOL crypto need to wait until it breaks out of the primary resistance level over the daily time frame chart.
Summary
Solana price prediction showcases the recovery phase of Solana price inside an ascending parallel channel over the daily time frame chart. Solana price has recovered around 15.31% in a week confirming the facts of its recovery through the ascending parallel channel and the analyst’s analogy of maximum recovery.
Solana price must recover above $23.30 primary resistance level in order to reach the $25 recovery level through the current rising parallel channel. Technical indicators suggest the uptrend momentum of SOL crypto price over the daily time frame chart.
Technical Levels-
Resistance level- $23.80 and $25.00
Support level- $20.95 and $19.50
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/03/23/solana-price-prediction-sol-price-roadmap-to-40-in-2023/