Solana Price Prediction: SOL Falls Just Short Of $100

Daily Solana SOL Technical Analysis

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Last Updated March 2nd 2022
3 Min Read
  • The Solana price fell back during the ongoing session, with SOL down by just over 1%. 
  • SOL had surged on Monday, pushing up by over 16%, moving past the 20-day SMA and settling at $99.76.

The Solana price fell back in the red during the ongoing session after bearish sentiment prevented SOL from pushing to $100. SOL had registered an increase of nearly 4% on Friday before falling into the red over the weekend. SOL had dropped by nearly 3% on Saturday and over 5% on Sunday, ending the weekend on a bearish note at $85.64. SOL made a stunning recovery on Monday, as the price surged by over 16% and pushed above the 20-day SMA but fell back in the red during the current session. 

Solana Price Chart Indicates SOL Looking To Push To $100 

The Solana price had started the previous weekend on a fairly positive note on Saturday, rising by 1.53%. However, the price fell back on Sunday, registering a marginal drop of 0.70% and settling at $90.69. The bearish sentiment persisted on Monday, with SOL dropping over 8% and settling at $83.04 before recovering on Tuesday and pushing to $86.46. On Wednesday, SOL fell back in the red as sellers pushed the price down by over 2% to $84.58 but recovered on Thursday, rising by nearly 6% and moving to $89.40.

Image: SOL/USD daily

Image: SOL/USD daily chart 030222

After recovering on Thursday, the Solana price continued to push higher on Friday, rising by almost 4% and moving to $92.80. SOL fell back in the red over the weekend, falling by 2.72% on Saturday and then over 5% on Sunday, ending the weekend at $85.64. The price made a strong recovery on Monday as SOL surged by over 16%, pushing to $99.76 before dropping back during the ongoing session.

We can see that the MACD is bullish, indicating that we could see the price recover.

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Image: SOL/USD 4-hour

Image: SOL/USD 4-hour chart 030222

The 4-hour Solana price chart shows that SOL dropped to $77.60 on the 24th. The price made a strong recovery from this point, pushing back above the 20-bar SMA and moving to $90.94. At this level, the 50-bar SMA was acting as resistance, and the price fell back marginally before pushing past this level and rising to $92.80. After reaching this level, the price fell back and dropped below the 20 and 50-bar SMAs, falling to $87.09 on the 27th. SOL recovered from this point and pushed back above the two SMAs again but fell back below the SMAs to $84.88 on the 27th. SOL made a strong recovery after dropping to this level, surging past the 50 and 20-bar SMAs and rising to $99.76 before dropping back marginally.

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

Solana Price Is Expected To Reach These Levels 

The Solana price chart shows that SOL is marginally down during the ongoing session after a significant surge on Monday. We can also see that SOL has managed to recover considerably. If the current sentiment continues, we could see SOL push past the $100 level.

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