Solana Aims at a 30% Upswing, Is SOL Price Primed to Hit $120 Levels in the Upcoming Week?

2 years ago 156

The post Solana Aims at a 30% Upswing, Is SOL Price Primed to Hit $120 Levels in the Upcoming Week? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Solana price is currently testing the upper resistance of the falling wedge which may ignite a notable uptrend. After constant rejections from these levels a couple of times, the asset may not witness the same scenario again. As the SOL price appears to be primed to rise above the odds to surge beyond $100 levels very soon. But to do so, the asset needs to sustain and clear crucial levels just below the 3-digit levels.

The SOL price after hitting the highs above $250 maintained a significant descending trend. While it was expected that the asset could hit the lower support at $70, the asset quickly began to chop above the $75 levels. This manifested the reassurance of the uptrend which may cut shot the distance to the 3-digit figure.

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Solana price after a steep drop from its highs is chopping around sideways aiming to prevent plunging towards the lower support.

The price is maintains a notable uptrend and tests the crucial levels which may decide the next plan of action

The SOL price is accumulating within a falling wedge, where-in a bullish break out is pre-programmed. The uptrend may be validated only after a breakout from the crucial regions around the $96 resistance levels

Clearing these levels and surging high may invalidate the possibilities of a fake-out which may, in turn, clear the path towards $100

No doubt the price is sliding down within the wedge, yet the RSI is maintaining an upward trajectory and hence a breakout towards $100 to reach the crucial resistance at $120 appears to be imminent.