Solana Price Analysis: SOL Looks To Push To $220 As Price Recovers

Daily Solana Price Forecast

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Last Updated November 26th 2021
3 Min Read
  • The Solana price has made a strong recovery during the current session, up by almost 5%. 
  • SOL has been quite bearish during the current week, with the price registering a drop of over 7% on Wednesday. 

The Solana price recovered during the ongoing session, as buyers pushed the price above $210, increasing over 4%. SOL had started the week on a bearish note, as it dropped by over 6% on Monday, settling at $215.83. Tuesday saw the price recover, rising by almost 3%, before falling back on Wednesday, registering a drop of over 7% and settling at $205.88. 

Solana Price Chart Indicates SOL Could Push To $220 

The Solana price started the previous week with a marginal drop on Monday before registering a fall of almost 8% on Tuesday, slipping below the 20-day SMA and settling at $219.28. SOL registered another marginal drop on Wednesday as the price remained in the red. Thursday saw the price drop by almost 11%, slipping below $200 and settling at $195.20. Despite the bearish sentiment, the price pushed up significantly on Friday, rising by over 10% and settling at $215.46.

Image: SOL/USD daily chart 112621

Image: SOL/USD daily

After pushing up to $215.46 on Friday, the Solana price continued to push up over the weekend, rising by 1.11% on Saturday and then pushing up by 5.83% on Sunday to end the weekend at $230.57. However, Monday saw the price fall back in the red, dropping by over 6% to $215.83. SOL made a recovery on Tuesday, as it rose to $221.89 before falling back on Wednesday and settling at $205.88, a drop of over 7%. The current session sees the price at $214, with buyers looking to push the price to $220.

We can see that the Parabolic SAR has flipped to bullish, indicating that we could see the price push higher.

Image: SOL/USD 4-hour chart 112621

Image: SOL/USD 4-hour

Looking at the Solana price chart, we see that SOL dropped to $192.09 after dropping below the 200-bar SMA. The price recovered from this level, pushing above the 20 and 200-bar SMAs and settling at $217.66. The price fell to $207.41, slipping below the 20 and 200-bar SMAs before rising to $230.68, pushing above all three SMAs. The price dropped from this level, falling to $212.18, slipping below the three SMAs again, before rising to $224.51. SOL turned bearish from this level and fell to $202.25, slipping below all three SMAs before rising to its current level of $214.

We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop. However, if the price recovers and pushes higher, we could see it flip to bullish.

Solana Price Is Expected To Reach These Levels 

Looking at the Solana price chart, we see that SOL has made a strong recovery during the current session. If the current bullish trend is maintained, we could see SOL push to $220.