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Solana price prediction – Mapping SOL’s short-term targets for traders
The cryptocurrency market is known to be highly unpredictable and volatile, making it difficult for traders to predict the future performance of any digital asset. However, based on recent data, I will attempt to map out Solana’s short-term targets for traders.
At the time of writing, Solana’s price has bounced back from $128.49, flashing some short-term strength as it trades at $138. Despite this gain, it is still down 20% over the past month, indicating that the market has been shaky. As a result, traders are waiting to see if SOL will continue its upward trajectory or drop again.
For Solana to keep going up, it needs to break past $140 on the back of strong trading volume. The recent 130% jump in trading volume is an encouraging sign, but if buyers slow down, SOL might struggle to stay at this level and could potentially drop again.
If traders remain active, the RSI (Relative Strength Index) keeps rising, and more people use Solana, then the price could keep climbing towards the next resistance level. However, the opposite could also happen – if trading volume slows down and traders turn bearish, SOL might face selling pressure that pushes it back down.
The next few days are crucial in determining which direction SOL’s price will take.
Source: https://ambcrypto.com/solana-price-prediction-mapping-sols-short-term-targets-for-traders/
