Market Analysis

SOLANA PRICE ANALYSIS & PREDICTION (December 21) – SOL Gains 26% Weekly In A Fresh Surge, Targets $100 Next

Most altcoins have rebounded from their recent lows with a key breakout But Sol saw the most gain in the last 7 days and broke higher this week. It currently targets $100 as the next buying stop.

Since Sol took off from the $8 level a year ago, it has continued to show signs of strength with a series of major breakups in the last two months.

In fact, it shows no sign of slowing down as it keeps gaining momentum by the day. Although it took a brief break earlier this month and accumulated for days before resuming buying with a massive surge in volatility.

Yesterday, the price flipped through the $80 level without any hassle, and easily advanced to a daily high of $95.35. This surge brought an instant 15% gain in the last 24 hours but the price has dropped slightly to $92 at the time of writing.

With the latest sudden price movement as shown on the daily chart, Sol’s price is likely to test a key resistance level before it can face a solid rejection. Rising above this level would signal another massive price movement towards the $150 in the mid-term.

Inversely, a drop below the $90 level could trigger a pullback to the recent breakout level for support before bouncing back. Right now, SOL appears extremely bullish on the weekly scale. So far, it has recovered by a total of 1100% in the last year.

SOL’s Key Level To Watch

Source: Tradingview

A push above the current daily high (95.53) may see Sol through a new milestone of $100 before declining. It may increase to $105 if the price breaks higher.

While the $80 level is held as key support to watch for a pullback, the lower levels to keep in mind for a broader pullback are $70 and $60.

Key Resistance Levels: $95.35, $100, $105

Key Support Levels: $80, $70, $60

  • Spot Price: $92
  • Trend: Bullish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: alexandarilich/123RF // Image Effects by Colorcinch

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