Solana (SOL) Prediction for August 29

08/29/2024 22:50
Solana (SOL) Prediction for August 29

Have buyers accumulated enough strength for upward move of Solana (SOL)?

Original U.Today article

Solana (SOL) Prediction for August 29

Cover image via U.Today

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Most coins from the top 10 list are bouncing off today, according to CoinStats.

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SOL chart by CoinStats

SOL/USD

The price of Solana (SOL) has gone up by 1.78% since yesterday.

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Image by TradingView

On the hourly chart, the rate of SOL is trading near the resistance of $145.99. If its breakout happens, there is a chance to see a test of the $150 zone shortly.

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Image by TradingView

On the daily time frame, the price is trading within yesterday's bar, which means neither bears nor bulls are dominating. In this case, sideways trading in the narrow range of $145-$150 is the more likely scenario until the end of the week.

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Image by TradingView

From the midterm point of view, buyers have failed to keep the growth. If the current weekly bar closes below $138, sellers may again seize the initiative, which might lead to a correction to the $130 mark.

SOL is trading at $146.60 at press time.

About the author

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].

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