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Tuesday, November 29, 2022
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    HomeAltcoinSolana Price Prediction: SOL Price Aims For $160.0 Amid Sustained Buying Momentum

    Solana Price Prediction: SOL Price Aims For $160.0 Amid Sustained Buying Momentum

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    SOL price manages to print positive aspects on Thursday. The worth examined recent highs close to $127.0 for the primary time since January. SOL surged practically 56% from the lows of $80.0, this additionally constitutes a spherical backside technical formation.

    • SOL worth extends the positive aspects for the third session in a row.
    • Extra positive aspects as the value sailed above the essential 200-day EMA.
    • The buying and selling quantity holds at $4,070,590,287 with practically 30% positive aspects.

    SOL worth appears to be like north

    On the each day chart, the SOL worth examined $124.0 for the primary time in 2022. The worth just lately breached the essential 200-EMA (Exponential Transferring Common) since being examined on January 22. This can be a robust signal for the continuation of the upside momentum.

    A each day shut above the session excessive will invite extra buying and selling alternatives for the consumers. The worth would goal the highs of January 22 at $143.96, an ascent of 15% from the present ranges.

    After tagging the talked about ranges, bulls can be additional inspired to take out the $160.0 horizontal resistance stage amid sustained shopping for stress.

    Quite the opposite, if the value sliced the 200-day EMA assist it could invalidate the bullish outlook within the pair for a minimum of within the brief time period. On shifting down, the primary draw back goal could possibly be discovered on the $100.0 mark. An prolonged sell-off would convey the $80.0 stage into play.

    As of publication time, SOL/USD is buying and selling at 126.80, up 4.91% for the day. The 24-hour buying and selling quantity of the eight-largest cryptocurrency by market cap is holding at $3,949,454,389 in keeping with the CoinMarketCap.

    Technical indicators:

    RSI: The each day Relative Power Index moved sharply above the typical line. Nevertheless, it reads at 72 not removed from the overbought zone.

    MACD: The Transferring Common Convergence Divergence sliced above the midline with a bullish bias.

    Buying and selling quantity: The On-balance-volume indicator reveals demand-driven progress within the worth.

    Disclaimer

    The introduced content material might embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.

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