Solana Price Prediction: Solana Crosses $150 After Bullish Wednesday

Daily Solana Technical Analysis

By
Last Updated January 14th 2022
3 Min Read
  • The Solana price is marginally up during the current session, as buyers look to push SOL towards $155
  • SOL has been quite bullish during the week and had pushed up by over 8% on Wednesday. 

The Solana price has pushed up to $152 during the ongoing session after registering a marginal increase. SOL had started the week in the red, dropping by 3.44% on Monday. The price recovered on Tuesday, rising by 3.11%, and then by over 8% on Wednesday, pushing past $150 and settling at $151.60. The current session sees SOL at $152, as buyers look to push the price towards $155. 

Solana Price Chart Indicates SOL Could Push To $155

The Solana price was extremely bearish during the previous week, starting Monday with a drop of 3.66%. On Tuesday, SOL remained in the red, dropping by 1.35%, and then fell by nearly 8% on Wednesday, falling to $154.52. The price continued to drop on Thursday, as SOL dropped to $150.32 after falling by 2.72%. Friday saw SOL register another significant drop, as it slipped below the $150 level after dropping by over 9% to $136.40, where the 200-day SMA acted as support.

Image: SOL/USD daily

Image: SOL/USD daily chart 011422

The Solana price recovered over the weekend, rising by 4.24% on Saturday and moving to $142.19. However, the price fell back in the red on Sunday, ending the weekend at $140.86. Monday saw SOL continue to drop, as it fell to $136.01, where the 200-day SMA again acted as resistance. However, the price made a strong recovery on Tuesday, rising by 3.11% and then pushing up by over 8%, moving above $150 to settle at $151.60. The current session sees SOL at $154, with buyers looking to push the price above $155.

We can see that the MACD is currently bearish, but if the price continues to increase, we could see it flip to bullish.

Image: SOL/USD 4-hour

Image: SOL/USD 4-hour chart 011422

The 4-hour Solana price chart shows us that SOL had dropped to $135.38 on the 8th. The price pushed back up from this level, rising to $142.19 and then pushing above the 20-bar SMA on the 9th when the price rose to $145.32. The price fell back in the red, dropping to $140.85 and then slipping below the 20-bar SMA on the 10th, falling to $133.09. SOL made a strong recovery from this level, rising to $137.27 and then pushing back above the 20-bar SMA on the 11th when the price rose to $142.54. The price registered a marginal drop from this level, falling to $139.01, before surging past the 50-bar SMA and settling at $$152.90. The price fell back from this level, registering a marginal drop before rising to its current level of $154.

Both the MACD and Parabolic SAR are bullish, indicating that the price could push higher.

Solana Price Is Expected To Reach These Levels 

Looking at the Solana price chart, we see that SOL has been quite bullish during the current week. If the present bullish sentiment persists, we could see SOL push above $155.sol