Solana Price Prediction: SOL Looking To Push Back Above $90 

Daily Solana SOL Technical Analysis

Last Updated February 28th 2022
3 Min Read
  • The Solana price is down by just over 1% during the ongoing session, as bearish sentiment over the weekend pushed the price back down. 
  • SOL was quite positive on Friday and had managed to register a strong increase of almost 4%. 

The Solana price is down marginally during the current session, as SOL looks to push back above $90. SOL had registered a drop of over 2% on Wednesday but recovered on Thursday, pushing up by nearly 6% and rising to $89.41. Friday saw the bullish sentiment persist, as SOL rose by almost 4%, moving above the $90 level and settling at $92.80. However, SOL fell back over the weekend, dropping by nearly 3% on Saturday and then slipping below the $90 level during the current session. 

Solana Price Chart Indicates Buyers And Sellers Struggling To Establish Control 

The Solana price started the previous weekend on a bearish note, dropping by almost 4% on Friday. SOL managed to register a recovery on Saturday, rising by 1.51%, but fell back on Sunday, registering a marginal drop and ending the weekend at $90.69. Monday saw SOL remain in the red, as it dropped by over 8%, dropping to $83.04. Despite the sharp fall, SOL recovered on Tuesday, rising by over 4% and moving to $86.47.

Image: SOL/USD daily

SOL/USD daily chart 022822

More On Solana: When Is The Right Time To Invest And Sell Solana (SOL)?

The Solana price fell back in the red on Wednesday, dropping by just over 2% and settling at $84.58. However, SOL recovered on Thursday, rising by nearly 6% and moving to $89.41 after a highly volatile session. Friday saw SOL remain in the green, pushing above the $90 level and rising to $92.80. On Saturday, the price fell back in the red, dropping by nearly 3% to $90.28 before falling below $90 during the current session.

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

Image: SOL/USD 4-hour

SOL/USD 4-hour chart 022822

Looking at the 4-hour Solana price chart, we can see that SOL had dropped to $81.70 on the 22nd. SOL made a strong recovery from this level, pushing past the 20-bar SMA and rising to $92.08 on the 23rd. At this level, the 50-bar SMA came into play as resistance, and the price fell back drastically, falling below the 20-bar SMA and dropping to $77.60 on the 24th. SOL made another strong recovery from this point, as it surged past the 20-bar SMA and rose to $90.94. However, with the 50-bar SMA acting as resistance, the price fell back, dropping to $89.26 on the 25th. SOL then pushed past the 50-bar SMA, rising to $92.88 but then turned bearish, dropping below the 20 and 50-bar SMAs and falling to $87.09 before pushing back above the SMAs and moving to its current position of $89.

We can see that the MACD and Parabolic SAR are bearish, but if SOL can push higher and cross $90, we could see them flip to bullish.

Solana Price Is Expected To Reach These Levels 

The Solana price chart shows that SOL is marginally down during the ongoing session, as buyers and sellers look to establish control. If SOL is able to recover, we could see the price push past $90, but if sellers manage to push the price down, SOL could drop towards $85.

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