Today’s prediction shows that the Solana market is performing better against Bitcoin than against the US Dollar. In this forecast, it can be observed that this crypto attempts to break upwards. This is seen through the price movement in the price channel against the USD and the upward sloping triangle on the SOL/BTC charts.
Binance Coin Forecast Statistical Data:
The current price of Solana Coin – is $44.00
Solana Coin Market Cap – $15.2 billion
Circulating supply of Solana Coin – 346.2 million
Solana Coin total supply – 511.6 million
Solana Coin Coinmarketcap Ranking – #9
SOL/USD market
Important brands:
Resistance levels: $40.00, $42.00, $44.21
Support Levels: $43.50, $41.50, $36.70
Additionally, since early July, this SOL has been trading slightly higher so far. However, let’s take a look at this market and a bit of what to expect from now on.
Solana Coin Value Prediction: SOL Minimum Upside Gain
Considering the SOL/USD daily chart, it can be observed that this crypto generally trades upwards. However, there are a few false exits at one point, but the price moves have more consistently held the upward sloping channel.
Furthermore, the stochastic relative strength indicator also reflects how prices are moving. We can see that the latest downside correction occurred higher in the overbought region than the previous one. Hence, it depicts the slightly upward way of price movements, as seen in the chart. Subsequently, the conclusion from here is that Solana can be more profitable in hourly trading than in the longer terms of weekly or monthly trading. Also, the SRSI predicts that another reversal is near as the curves of this indicator are about to cross below the overbought region. Eventually, the value of this crypto can return to $45 at most. Traders of this pair can therefore anticipate this level.
Solana Coin Value Prediction: SOL Shows More Optimism on This Front
Additionally, on the SOL/BTC chart, this coin shows some optimism, as it is trading in an ascending triangle. This movement developed on June 13, as the value of the crypto increased until beyond June 20 and the value reached around 0.00200. This trend was followed by a correction which caused the pair to move sideways. Nevertheless, the movement pattern of this crypto in the said pattern suggests that we could see a breakout to the upside.
The SRSI indicator sheds more light on the upcoming event. This can be seen as the curves of this indicator rise upwards from the oversold region. Also, looking at the current position of the indicator lines, we can assume that the breakout is possible. Therefore, the value of Solana against Bitcoin can reach around 0.00200, and higher support can be found from there.
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