Solana Price Prediction Following New Multi-Month High – What’s Next for SOL’s Price Action?
Solana (SOL) emerges as a key contender, recently achieving a notable multi-month high of around $137, amid Solana’s valuation prompts a closer examination and subsequent Solana price prediction.
With its price currently at $128 and experiencing a slight correction of nearly 4% in the last 24 hours, Solana’s market dynamics represent a mix of potential growth and short-term volatility.
Despite this, the trading volume of $3.84 billion underscores a robust interest in SOL, maintaining its position as the fifth-largest cryptocurrency by market capitalization, at roughly $57.10 billion.
Analyzing SOL/USD’s 4-hour chart provides a deeper understanding of Solana’s price dynamics. The pivot point, identified at $135.71, delineates a crucial threshold for SOL’s short-term price movements. Resistance levels are set at $142.03, $148.33, and $154.64, outlining potential ceilings for upward price action.
On the downside, immediate support is found at $127.13, with further cushions at $118.99 and $112.96, which could play pivotal roles in Solana’s price stabilization.
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