Solana Price Prediction as SOL Drops Below $100 Support – Here’s the Next Level to Watch
Solana (SOL) price action remains a focal point for investors, with the asset trading at around $101.85 and a volume of $1.5 billion over 24 hours.
Amidst market fluctuations, Solana’s valuation stands resilient, holding a market cap of roughly $44.93 billion, ranking it fifth on CoinMarketCap.
The Solana price prediction hinges on whether it can maintain the $98.60 support level, setting a critical juncture for its future trajectory in the dynamic cryptocurrency landscape.
The critical pivot point for SOL/USD is observed at $98.60, a level which, if upheld, could steer Solana away from bearish territory. Immediate resistance is encountered near $105.97, with further barriers at $110.54 and $114.74.
On the downside, support levels are placed at $94.24 and $89.36, with an additional potential floor at $85.51.
The Relative Strength Index (RSI) presently stands at 42, hinting at a bearish momentum as it sits below the midline of 50. This could indicate that sellers currently have the upper hand in the market.
However, the emergence of a Doji candle at the support level of $98.60 signals a potential reversal in this sentiment. Should Solana sustain above this level, a shift to bullish momentum could be triggered.
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