Solana has experienced remarkable growth since October 2023, reaching a high of $126 in December of that year. After a period of decline, SOL has rebounded and is now approaching its 2023 high, just below key long-term levels. However, the weekly Relative Strength Index (RSI) is giving mixed signals, potentially indicating a bearish divergence depending on the weekly close.
Analysts on Platform X are optimistic about Solana’s prospects. Inmortalcrypto expects SOL to rise to at least $140, while Sam MTI believes that SOL has entered a new bullish phase and could see a parabolic rise to surpass Bitcoin. The daily timeframe supports continued upward movement, with the price approaching the next resistance level at $140.
Despite the bullish outlook, a rebound from the range high could trigger a 10% drop back to the mid-range around $102. It is important to note that all information provided is for informational purposes only, and readers are encouraged to make their own decisions based on the information received.
Disclaimer: All information contained on this website is published in good faith and for informational purposes only. Readers are solely responsible for their own actions based on the information provided.