Solana Price Analysis: SOL Surges Past $100 After Strong Start To The Week

Daily Solana SOL Price Prediction

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Last Updated February 2nd 2022
3 Min Read
  • As buyers look to push SOL even higher, the Solana price is up by over 5% during the ongoing session. 
  • SOL has started the week on a very positive note but had ended the weekend on a bearish note, dropping by nearly 3%. 

The Solana price continued to push higher as its strong start to the current week continued, with buyers looking to push it towards $110. SOL had started the weekend on a fairly positive note after rising by nearly 2% on Friday. Saturday saw SOL continue to push higher, as the price rose by over 5% and moved to $96.17. However, the price fell back on Sunday, ending the weekend at $93.40. On Monday, SOL registered a strong recovery, rising by nearly 7% and moving to $99.59 before surging past $100 during the ongoing session. 

Solana Price Chart Indicates SOL Could Push To $110 

The Solana price started the previous weekend on a bearish note, dropping by nearly 12% on Friday. SOL continued to drop on Saturday, as it dropped by almost 16%, falling to $94.62, before recovering on Sunday and rising to $99.85. However, SOL fell back in the red on Monday, dropping by nearly 8% and falling to $92.10, before recovering on Tuesday, rising by nearly 3% and moving to $94.73. Wednesday saw SOL drop back, as the price fell by 2.69%, dropping to $92.18.

Image: SOL/USD daily

Image: SOL/USD daily chart 020222

On Thursday, the Solana price continued to drop as SOL fell by nearly 3%, dropping to $89.69. The price recovered on Friday, rising by nearly 2% and moving to $91.46, then pushing up by over 5% on Saturday and $96.17. However, SOL fell back on Sunday, dropping by nearly 3% and ending the weekend at $93.40. SOL started the current week on a positive note, rising by nearly 7% and settling at $99.59 before pushing past the $100 level during the ongoing session.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

Image: SOL/USD 4-hour

Image: SOL/USD 4-hour chart 020222

Looking at the 4-hour Solana price chart, we can see that SOL had pushed above the 20-bar SMA on the 25th when the price rose to $96.32. SOL continued to push higher from this level, rising to $98.93, but fell back after reaching this level, slipping back below the 20-bar SMA and dropping to $86.88. The price recovered from this point, rising to $92.40, but could not push past the 20-bar SMA and fell back, dropping to $88.65. SOL made a strong recovery from this level and pushed above the 20 and 50-bar SMAs, rising to $96.72 on the 30th, before slipping back below the 20 and 50-bar SMAs, falling to $90.29. SOL made a strong recovery from this level, as the price surged past the 20 and 50-bar SMAs, rising to its current level of $105.

The Parabolic SAR and MACD are both bullish, indicating that we could see the price push higher.

Solana Price Is Expected To Reach These Levels 

Looking at the Solana price chart, we see that SOL has made a strong start to the current week. If the current bullish sentiment persists, we could see SOL push to $110.