Solana (SOLUSD) Price Forecast: February 2
The SOLUSD price will soar higher to retest the $125.97 high mark amidst the recent market surge in the crypto market. If the bulls could keep the coin price above the crucial $110.14 supply level, it will challenge its next resistance at $125.97. Sustaining this level could pave the way for the crypto to aim for a higher resistance at the $120.00 level.
Key Levels:
Resistance Levels: $94.00, $95.00, $96.00
Support Levels: $86.00, $84.00, $82.00
SOL (USD) Long-term Trend: Bullish (Daily Chart)
SOLUSD indicates an upward trend with a bullish sentiment in its long-term perspective. The price will soar higher above the current level if the bulls could increase their swagger. The cryptocurrency has been trading in a bullish trend, with a rally for the best crypto signal to buy.
The sustained bulls’ action on the crypto to a $101.98 high value in the past few days has enhanced the price to stay above the supply levels in its recent price level.
The drop in the price of Solana to the $92.44 low value as the daily chart commenced today has no serious effect on the market as the price remains in an uptrend. Staying above the supply levels makes it possible for the coin price to rise further.
Thus, if buyers eventually wrestle trend control from sellers and rebound from $92.44 support, a positive breakout above the current support is needed to confirm the potential Bull Run.
Adding to this, the SOLUSD price is likely to soar higher soon as the price action is now approaching the oversold region.
Hence, this upcoming bullish rally may likely soar higher to retest the $120.00 high mark in the coming days in the long-term outlook.
SOL (USD) Medium-term Trend: Bullish (4H Chart)
The SOLUSD pair is trading in the bearish trend market in its long-term outlook. The price bar can be seen slightly below the moving average lines and has confirmed its bearishness.
The interference of short-term traders to the $95.88 low level in the previous action has contributed to its bearish momentum in recent times.
We have also spotted a breakout and the start of a continuation to the upside. As of now, the coin price made a pullback at the $94.85 value which further increases to the $96.00 supply value below the EMA as a correction phase with intraday gains.
Hence, a strong push above the $106.45 supply level will offer strong resistance to the crypto price to soar higher to the $125.97 resistance level.
Additionally, Solana’s price will soar higher as indicated by the key indicator pointing upwards, we can certainly expect more strength from the coin and this may likely get to a $120.00 upper resistance mark in the coming days in its medium-term outlook.
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