Cryptocurrencies

Solana Price Prediction: Is SOL Price Heading Toward $100?

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Written By: Abdullah Sarwar
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    Summary:
  • Solana Price Prediction: SOL/USD seems to have more upside if the bulls hold $60 support level on the daily timeframe.

The outlook on the Solana (SOL) price remains positive as the uptrend remains intact despite pullbacks on low timeframe. In this analysis, we are going to take analyze SOL crypto on a high timeframe to determine where it might head from here.

On a yearly timeframe, Solana has outperformed almost all the major digital assets with a 534% surge since the start of 2023. This phenomenal price action comes after a 94% drop in its market value last year due to the collapse of FTX.

With the latest surge, SOL has also surprised the analysts who overwrote their investments due to the FTX saga. This was due to strong ties between Solana and FTX/Alameda Research.

The next major resistance on the Solana price chart lies around $75, which is almost 20% above current prices. While there is a strong possibility of a retest of this level, the recent low of $60 must be considered an invalidation of this bullish outlook.

SOL/USD Chart

This post was last modified on Dec 08, 2023, 17:44 GMT 17:44

Written By: Abdullah Sarwar

Abdullah Sarwar is a blockchain analyst and a cryptocurrency investor with more than 5 years of experience. He specializes in providing crypto price projections based on their fundamentals and price charts. He is also a successful day trader. He graduated in 2015 with a degree in electronic engineering. In his free time, he loves listening to electronic music and playing with trading bots.

Published by
Written By: Abdullah Sarwar