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Solana Price Analysis: SOL/USD slowly consolidates above $75, targets $82 next?

2 min read

TL;DR Breakdown

  • Solana price analysis is bullish on today’s session after  bulls rallied 5.98 upwards
  • SOL/USD is heading towards $77 after a slight correction to the $75 – $76 zone
  • we expect SOL/USD to gain more percentages later today and cross past $80. 

Solana Price Analysis: General Price Overview

Solana price analysis is bullish on today’s session after the bulls rallied by more than 5.98 percent in the last 24 hours. SOL/USD started a gradual uptrend in the early morning session after rebounding from yesterday’s support at $68. If the market bulls sustain the current pace, they are likely to cross the $81 target and continue an upward trajectory towards the $100 mark. 

The general cryptocurrency market has been trading in the neutral zone with few retracements here and there and several gains across some markets. Some losers include BTC, which has already corrected below the $50K mark by 1.82 percent; ETH, which has shed 0.56 percent of its value; and Binance Coin, which has lost 1.41 percent. The best performer of the day is Cardano(ADA), after rallying 2.00 percent in the past 24 hours. 

Solana price movement in the last 24 hours: Solana consolidates above $75

SOL/USD traded within a moderate range of between $73 – $79, suggesting a moderate amount of volatility in the past 24 hours. Daily trading volumes skyrocketed by 54 percent to a record $1,833,958,434. On the other hand, the total market capitalization rose by 5.24 percent to a total of $21,971,989,281.

SOL/USD 4-hour chart: SOL ready to move to $82 next?

On the 4-hour Solana price analysis chart, SOL/USD is heading towards $77 after a slight correction to the $75 – $76 zone, suggesting an upcoming bullish continuation in the next few hours. 

Solana Price Analysis: SOL/USD slowly consolidates above $75, targets $82 next? 1
Source: Tradingview

Solana price action traded strongly bullishly in the morning session and went on to hit a daily high at $79. This was an attempt to recover Sunday’s high of $81 and resume an ascending channel to the $100 support.

On Monday, Solana gained some 10 percent and readjusted the support from $68 to $73. The bulls are now hoping to flip the current support and use it to consolidate momentum for facing the $100 target. 

Solana Price Analysis: Conclusion

Solana price analysis is bullish for today as the market set new support and continues to trend upwards to the  $77 mark. Therefore, we expect SOL/USD to gain more percentages later today and cross past $80. 

While waiting for the SOL/USD pair to move further, read our articles on cryptocurrency regulation, some market scams you should know as well as our cryptocurrency trading guides.  

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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