Solana Price Prediction – Will Solana Recover 2023

Solana Price Prediction – Will Solana Recover 2023

Solana Price Prediction: Why Does SOL Look Like It’s About to Break Through the $15 Mark?

The price of Solana recovered from the $12.75 local support on the ongoing bullish trend in the cryptocurrency market. The price increase of 15.3% over the previous two days was driven by this bullish turnaround. Additionally, this price increase resulted in a bullish double-bottom pattern, which raised Solana’s potential for additional gain.

Solana Price Prediction - Will Solana Recover 2023

Key points

  • The price of Solana is expected to increase by 11% when the double bottom pattern is complete.
  • The bullish argument will be disproven if the daily candle closes below $14.4.
  • The Solana coin had a 24-hour trading volume of $836 billion, which is a 19% increase.

The Solana coin price reverberated in a defined range that ranged between $15 to giving it a closer look; this consolidation reveals the emergence of a double bottom pattern in reaction to the recent unpredictability in the crypto market.

This bullish reversal pattern is well-known in technical analysis for forming near the market bottom and inspiring a directional rally upon breaking through its neckline resistance. Thus, the Solana price gave a significant breach from the $14.4 neckline barrier with an intraday price increase of 5.7%.

Prices are predicted to revert lower and perhaps test the broken level as support once a daily candle closes above the $14.4 barrier. The newly installed flip support will serve as a springboard for the additional price increase. According to theory, the possible objective for this pattern is located at the same distance as the base support shot from the breakout point from the neckline.

A post-retest rally will thus push the Solana Price 11% higher to $8.57.

Solana Price Prediction - Will Solana Recover 2023

On the other hand, since last month, there has been a positive rise at the $15 in-between resistance level. As a result, a daily candle closing below the $14.4 level will weaken the bullish thesis and prolong the consultation that follows.

As a result, traders search for a riskier entry to purchase over the $15 level.

Technical indicator

Relative strength index: A optimistic prognosis is suggested by the RSI indicator, which measures the strength of recent market activity. The indicator slope continues to increase despite the sideways trend, indicating growing bullish momentum, which supports the $15 breakthrough.

EMA’s: The most recent price broke through the 20 DMA slope, giving buyers an advantage.

$14.3 and $15 are the resistance levels.

levels of assistance: $2.75 and $11.3

FAQs – Solana Price Prediction

[sp_easyaccordion id=”1279″]

Conclusion >> Solana Price Prediction

It is difficult to predict the exact price of Solana in the future. However, given its current market cap and the amount of interest in the project, there is a good chance that it could continue to increase in value over time. Ultimately, the best way to make a decision about investing in Solana is to stay informed regarding the project, research the cryptocurrency market, and make an informed decision based on your own risk tolerance.

Disclaimer

Please bear in mind that the material in this article is not financial or investment advice. The information in this article is strictly the author’s opinion and should not be interpreted as trading or investment advice. We make no assurances about the completeness, trustworthiness, or accuracy of this content. The cryptocurrency market is notorious for its tremendous volatility and irregular moves. Before investing, any investor, trader, or the regular crypto user should perform comprehensive research and get familiar with any local regulations.

 

Do you have questions about how to find your ideal niche? Let us know in the comments below!

 

If you liked this article, be sure to follow us on Facebook, Pinterest, and Instagram! And don’t forget to subscribe to our newsletter

More Useful Resources: Coinbase Recover ERC-20 Tokens


Share post on
Muhammad Naqash
By Muhammad Naqash

To get SEO help, contact Muhammad Naqash. To discuss your SEO requirements and increase your online presence, don't be afraid to contact him on LinkedIn.


Please add "Disqus Shortname" in Customize > Post Settings > Disqus Shortname to enable disqus

Explosive Returns Parabolic $200B Cryptocurrency Price Prediction Sparks a Massive Earthquake For Bitcoin and Ethereum Crypto

Explosive Returns Parabolic $200B Cryptocurrency Price Prediction Sparks a Massive Earthquake For Bitcoin and Ethereum

'Explosive Returns'—Parabolic $200 Billion Crypto Price Prediction Primes Huge Bitcoin And Ethereum Earthquakes The...

By Muhammad Naqash
How to Create an IMVU Account Step-by-Step Guide Gaming

How to Create an IMVU Account Step-by-Step Guide

How to Create an IMVU Account: Step-by-Step Guide Introduction If you're looking to join...

By Muhammad Naqash
Which Cryptocurrency to Invest in 2023? Best Options Crypto

Which Cryptocurrency to Invest in 2023? Best Options

Which Cryptocurrency to Invest in 2023? Cryptocurrency stays one of the most profitable places...

By Muhammad Naqash
What is the Metaverse? Best Explanation and In-Depth Guide Crypto

What is the Metaverse? Best Explanation and In-Depth Guide

What is the Metaverse? The Metaverse is one of today's trendiest themes. But do...

By Muhammad Naqash
9 Best Metaverse Games to Still Play in 2023 Crypto

9 Best Metaverse Games to Still Play in 2023

The 9 Best Metaverse Games to Play in 2023 Virtual worlds and massively multiplayer...

By Muhammad Naqash
FIAT Opens The FIAT Metaverse Store in France Metaverse & NFTs

FIAT Opens The FIAT Metaverse Store in France

Fiat Metaverse store in France Fiat Metaverse: Metaverse is a window of opportunity for...

By Muhammad Naqash
How to Create NFT Avatars for the Metaverse Crypto

How to Create NFT Avatars for the Metaverse

How to Create NFT Avatars for the Metaverse Create NFT Avatars for the Metaverse:...

By Muhammad Naqash
The Benefits of Shiba Inu Coin Burn Crypto

The Benefits of Shiba Inu Coin Burn

The Benefits of Shiba Inu Coin Burn The cryptocurrency market has been experiencing a...

By Muhammad Naqash

Latest Posts

Unveiling the Enchanting Realm of Monrepscn Business

Unveiling the Enchanting Realm of Monrepscn

Introduction In a world brimming with mystery and fascination, there are places that elude...

By Muhammad Naqash
Blisterata 101 From Causes to Cures, Your Ultimate Guide Health

Blisterata 101 From Causes to Cures, Your Ultimate Guide

What is Blisterata? Everything You Need to Know About Blisterata is a condition that...

By Muhammad Naqash
Spirit of Indigenous North American Stickball A Time-Honored Tradition Entertainment

Spirit of Indigenous North American Stickball A Time-Honored Tradition

Introduction The beating of drums, the rustling of leaves, and the exhilarating calls of...

By Muhammad Naqash
The Ultimate Guide to Playing Retro Bowl Unblocked Games 911 Entertainment

The Ultimate Guide to Playing Retro Bowl Unblocked Games 911

How to Play Retro Bowl Unblocked Games 911 Retro Bowl is a football management...

By Muhammad Naqash
FC Porto vs Inter Milan A Battle of European Giants Entertainment

FC Porto vs Inter Milan A Battle of European Giants

FC Porto vs Inter Milan Timeline FC Porto vs Inter Milan is two of...

By Muhammad Naqash
INDEXNASDAQ: .IXIC Nasdaq Composite Indexs Influence on Tech Evolution Business

INDEXNASDAQ: .IXIC Nasdaq Composite Indexs Influence on Tech Evolution

Nasdaq Composite INDEXNASDAQ: .IXIC In the fast-paced world of financial markets, the Nasdaq Composite...

By Muhammad Naqash
The Transformative World of Onee-chan wa Game o Suru to Hito ga Kawaru Onee-chan Entertainment

The Transformative World of Onee-chan wa Game o Suru to Hito ga Kawaru Onee-chan

Exploring the Phenomenon of "Onee-chan wa Game o Suru to Hito ga Kawaru Onee-chan"...

By Muhammad Naqash
Legendary Rankers Comeback Raw Now Read In English Entertainment

Legendary Rankers Comeback Raw Now Read In English

Legendary Ranker's Comeback Raw Now Read In English Legendary rankers comeback raw beginnings of...

By Muhammad Naqash