Solana Price Prediction: SOL Back Above $200, Looks To Move To $220

Daily Solana Technical Analysis

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Last Updated November 30th 2021
3 Min Read
  • The Solana price pushed up significantly during the ongoing session, up by almost 5%. 
  • SOL was quite bearish over the previous week and had dropped by over 8% on Friday. 

The Solana price had fallen significantly on Friday, as sellers pushed SOL below the 50-day SMA and $200 level to $192.73. SOL recovered over the weekend, as the price registered a marginal increase on Saturday. The price pushed up further on Sunday, rising by over 4% to end the weekend at $200.92. The current session sees SOL back above the 50-day SMA, with buyers looking to push the price towards $220. 

Solana Price Chart Indicates SOL Could Push To $220 

The Solana price was quite bullish over the previous weekend, registering an increase of 1.11% on Saturday and almost 6% on Sunday to settle at $230.57. With the 20-day SMA acting as resistance at this level, the price dropped significantly on Monday, falling by 6.37% and settling at $215.83. SOL recovered on Tuesday, as it rose to $221.89, but fell back on Wednesday, dropping by over 7% and settling at $205.88.

Image: SOL/USD daily chart 113021

Image: SOL/USD daily

After Wednesday’s drop of over 7%, the Solana price pushed up by 1.94% on Thursday, moving to $209.89. However, the price turned bearish on Friday, dropping by over 8%, slipping below the 50-day SMA and $200, and settling at $192.73. The price showed signs of recovery on Saturday, as it pushed up marginally before rising by 4.44% on Sunday to end the weekend at $200.92. The price pushed up further on Monday, pushing above the 50-day SMA, and is currently at $210, with buyers looking to push the price to $220.

We can see that the Parabolic SAR is currently bearish; however, if the price continues to push up, we could see it flip to bullish.

Image: SOL/USD 4-hour chart 113021

Image: SOL/USD 4-hour

Looking at the 4-hour Solana price chart, we see that SOL dropped to $213.29 on the 22nd. The price pushed up from this level, moving above all three SMAs and pushing up to $224.48 on the 23rd. SOL fell back after reaching this level, slipping below all three SMAs and settling at $202.04. The price pushed up from this level, as it rose to $214.63, pushing above the 50-bar SMA. However, the price could not push past the 20-bar SMA and dropped below $200, slipping to $185.77 on the 26th. SOL rose to $196.68 before dropping to $187.23. The price then surged past the 20-bar SMA, moving to $200.92; it pushed past the 50-bar SMA to its current level of $211.

We can see that the MACD has flipped to bullish, indicating that the price could push higher during the ongoing session.

Solana Price Is Expected To Reach These Levels 

Looking at the Solana price chart, we can see that SOL has made a strong recovery over the weekend. If the current bullish sentiment persists, we could see the price push to $220 and test the resistance at that level.