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Solana (SOLUSD) Price to Grow More

Johnathon Fox
07/02/2024 | UPDATED ON: 07/02/2024

Solana (SOLUSD) Price Forecast: July 2
SOLUSD is now on the bullish side trying to grow more while making new corrections. The price challenged many resistance zones near $140.00, and we predict a rapid surge to occur soon. If sell traders ease their market tensions, the coin may rise to the $200.00 supply level amid renewed purchasing impetus.

Key Levels:
Resistance Levels: $140.00, $141.00, $142.00
Support Levels: $128.00, $127.00, $126.00

SOL (USD) Long-term Trend: Bearish (Daily Chart)
SOLUSD price is likely to grow more as it resumes its rising pattern shortly in its higher time frame, as seen from the chart below. The price is below the moving average, indicating a bearish trend.
Solana (SOLUSD) Price to Grow More
The bearish impact on the crypto to a $138.72 low mark in the past few days has sustained the price below the supply levels lately. Based on the outlook, the token is set to grow more as the price shows signs of an upward retracement following the completion of the low dips.

The price movement to a $141.54 high level below the EMA-50 as the daily chart commences today is a pullback that will enable the SOLUSD price to keep rising to foster a higher price, resulting in an intraday gain for buyers.

As of now, the price signal is pointing upwards, indicating a bullish move, and in this case, the price of Solana is expected to grow more and could jump up to hit the $200.00 upper supply mark sooner in its long-term outlook.

SOL (USD) Medium-term Trend: Bullish (4H Chart)
Analyzing the chart below, it is clear that the SOLUSD price will grow more in its medium-term outlook. The price currently trades above the EMA line facing the major upper channel.
Solana (SOLUSD) Price to Grow More
The high bullish impact on the crypto at the $140.39 high level in the previous action has contributed to its bullishness and enabled the price to grow more in its recent high.

The strong push by buyers to the $141.54 resistance trend line above the moving averages as the 4-hour chart opens today shows that the buying activities will keep rising, and buying is crucial.

Thus, if the long traders can break above the $175.10 supply mark, the bearish thesis will be invalidated, providing an established uptrend for buyers to regain bullish momentum.

Notably, the Solana market may grow more, as indicated by the price signal pointing in an upward direction. This may extend the token price to a high at $200.00 upper resistance value soon in its medium-term time frame.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
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