Solana (SOLUSD) Price Forecast: October 29
Solana is positive today, indicating that its buying time is now as the coin price shows significant movement above supply levels, eyeing to reach $200.00 shortly. The cryptocurrency is facing high pressure from the bulls. Should the coin values remain above $188.41, the bull market’s upward trajectory would likely reach the upper high level of $200.00, hinting at a robust upward trajectory.
Key Levels:
Resistance Levels: $175.00, $176.00, $177.00
Support Levels: $120.00, $119.00, $118.00
SOL (USD) Long-term Trend: Bullish (Daily Chart)
Solana’s price has witnessed an increase in buying pressure, suggesting its buying time is now as the coin price spikes above the resistance levels in its higher time frame. The coin price is above the supply levels, confirming its bullishness and signifies a buying time for coin holders.
The bulls’ breakout to a $170.66 high mark in the past session has enabled the coin to reach its buying time now and retain its bullish strength in its recent high.
The SOLUSD price breakout at the $176.86 resistance value above the EMA-50 as the daily chart opens today indicates the crypto’s buying time is now, resulting in intraday gains for coin buyers.
Based on the outlook, should the bulls go higher and close above the $188.41 high mark, a bullish breakout confirmation will reflect the improved market sentiment.
Similarly, the daily stochastic indicates that the Solana buying time is now as it remains upright on the daily signal. It is expected that buyers to push the price of SOLUSD up to a significant level in the upsides. In this case, the target might be the $200.00 upper resistance level soon in the higher time frame.
SOL (USD) Medium-term Trend: Bullish (4H Chart)
On the medium-term outlook, the SOLUSD pair is in a resistance zone, suggesting its buying time is now. Prices are above the moving averages and have confirmed a price breakout and bullish continuation pattern. The pair is in a smooth uptrend as can be seen from the chart below.
The price is moving in an uptrend in the H4 timeframe, making higher highs and moving towards its major resistance at $177.40. Pressure from the bulls at the $171.31 high value in the previous action has sustained its upward stability in its recent high.
Today’s 4-hourly bullish candle at $173.82 value which further rises to a $176.86 supply mark above the moving averages confirms the Solana buying time is now as the bulls remain dominant. This breakout triggers a smooth bull cycle pattern, which in theory, should lead the prices to an overhead trend line.
Hence, the Solana pair is showing more upside possibility as shown by the momentum indicator pointing upward and indicating its buying time is now; we can expect more gains and strength from the coin reaching the $200.00 resistance level in the days ahead as it suggests its buying time is now in its medium-term perspective.
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