Solana Price Prediction: SOL Gained 80% in Three Months, Where Now?

• Solana price prediction suggests the recovery phase of  SOL crypto over the daily time frame chart.
• Solana price has dropped below an interesting rising pattern and is trying to sustain at the 20-EMA.
• SOL crypto is trying to sustain and remain inside the recovery phase over the daily time frame chart.

The daily time frame chart for the Solana price shows the Solana price prediction in its recovery period within an ascending parallel channel but has dropped below. The SOL cryptocurrency price has been moving up the parallel channel since finding support at the $16.04 mark on March 10th. Analysts concur that SOL cryptocurrency will return to its highest level in 2023.

The Solana price prediction indicates that the SOL cryptocurrency price will rise significantly towards the $25 recovery mark. According to the ascending parallel channel and the analyst’s analogy of maximal recovery, the Solana price has recovered about 15.31% in a week, supporting the facts of that recovery.

Solana price was at $20.67 and has lost 0.05% of its market capitalization during the day’s trading session. Trading volume is still below average and needs to grow during the day’s trading session. 

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.

Solana Price: SOL gained 107% Year to Date, $25 Incoming?

For the Solana price to recover as much as possible towards the $25 recovery level, it must continue at the present rate of accumulation. In order for SOL cryptocurrency to reach the $25 recovery level, some intriguing levels must be reached, according to the Solana price prediction. 

To enter the current rising parallel channel and hit the $25 recovery level for solana, the price must rise above the $23.30 primary resistance level. Then, in order to maintain itself above $25 and begin its rebound towards the $40 recovery level, the Solana price needs to break through the $26.80 resistance level. 

Solana Cryptocurrency: Technical Indications

On the daily time frame chart, technical indicators point to sustainability problems with the SOL cryptocurrency price. The price movement of Solana is sideways, as shown by the relative strength indicator. At 47, the RSI is stationary below equilibrium. 

The Solana price’s falling velocity is visible in the MACD. The MACD line is about to make a negative crossing with the signal line. SOL cryptocurrency investors must wait until it breaks through the main resistance mark on the daily time frame chart. 

Summary

The daily time frame chart for the Solana price shows the Solana price prediction in its recovery period within an ascending parallel channel but has dropped below. In order for SOL cryptocurrency to reach the $25 recovery level, some intriguing levels must be reached, according to the Solana price prediction. 

The price movement of Solana is sideways, as shown by the relative strength indicator. At 47, the RSI is stationary below equilibrium. 

Technical Levels-

Resistance level-  $22.87 and $25.00

Support level-  $20.20 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.

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