Solanas Price Prediction – Find Out Where to Find SOL’s Short-Term Targets
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- The altcoin’s price once again respected the 4-month range formation.
- A short-term price drop is anticipated.
Solana [SOL] has recently exhibited a bullish structural break on the daily chart. Bitcoin [BTC] ‘s rebound last week instilled optimism in Solana bulls, but technical indicators did not align with this sentiment.
In the first week of September, SOL experienced a decline of 13.13%, dropping from its peak of $138.13 to $120 on Friday, September 6. Since then, it has rebounded by nearly 15%, recovering all losses incurred during the previous week.
Mid-range resistance as a take-profit target
Source: SOL/USDT TradingView
A range formation (purple) spans from $122 to $187, with the midpoint at $154.33. This marked the fourth instance since June that the range’s lows were revisited.
A bullish market structure was observed alongside heightened buying volume on the OBV, which surpassed previous week’s highs. The RSI also appeared poised to climb above the neutral 50 level. SOL displayed several optimistic indicators suggesting it could be approaching a substantial rally phase.
The mid-range level at $154 could be a prospective target next; however, this might be overly ambitious if Bitcoin stumbles in its resistance zone between $61,000 and $62,000. A rejection in BTC could adversely impact Altcoins and similarly put SOL at risk of declining further. p >
Prepare for buying opportunities during dips.
The recent uptrend saw liquidity gaps filled between $138 and approximately $114; henceforth targets shift towards liquidity levels set at around $142 and subsequently at $150.. Nevertheless, it’s probable that Solana may not directly attain these levels without experiencing temporary declines first! p >
Short-term liquidation metrics indicate an inclination towards bullish positioning—the delta of accumulated liquidation levels reflected substantial positivity as reported latest! This suggests an imbalance heading towards long positions thereby exerting pressures upon pricing activity contrary-wise—ultimately leading toward liquidity accumulation positions gaining strength! p >
For detailed insights read Solana’s [SOL] price prediction for FY24-25! p >
AskFX identified immediate targets around both$133 like well$135 correlating carefully calculated projections based upon existing trend channel layouts over time-series intervals aligned gravitating upwards hence signifying potential entry-level triggers turning advantageous maybe—even held relatively more significant probabilities too–however vigilant monitoring low timeframe behaviors becomes crucial due diligence undertaking!! p >
Disclaimer – The information presented here does not constitute any form financial advice; solely reflect personal opinions expressed herein!!! i > div > div > div >
