Key Takeaways
- Solana’s price reclaims the key demand zone of $200, following the market scare at $190, as the price rebounds.
- A bullish price action on a higher timeframe confirms that the bulls could aim to push the price towards $250.
- Crypto experts speculate about a strong bullish rally in the coming weeks, as the price exhibits strong upward price action.
Solana’s (SOL) price is in the spotlight once more following a strong market price after reclaiming the key support zone of $200 in the last few hours, despite the market suffering a shock market crash ahead of the month-end last Friday.
Current price action from Solana bulls has dominated the price despite market uncertainties in previous weeks, which halted the price of SOL from reaching its previous all-time high of $295. Although the price traded above $250, it faced a sharp market decline to the downside.
This came as a shock to many traders and investors seeking to establish a strong position in crypto due to its promising market potential. However, with current market price action showing a glimpse of resilience, there is speculation that the price will aim for its highs once more.
Solana Reclaims Key Zone
Source – SOL Daily Price Chart from TradingView
Following a strong rally towards a high of $253, the price of SOL faced a sharp market rejection towards a region of $200, acting as a previous demand zone, as the price traded lower into $190, as the market created a sweep of liquidity to the downside, as the market sentiment shifted to bearish, with traders willing to go lower.
However, with the new week opening, the price of Bitcoin showed strong strength to the upside, as Solana’s price followed, reclaiming its price above $210 and forming a clear bullish price action on the 4-hour timeframe. The price could build on its momentum to the upside.
If the price trades below $190, there is potential for the price to form a bullish price action around the $170 demand zone. However, if the price holds in this region of $200, we could see a higher price rally.
Current market sentiment and expert predictions have shifted to bullish for SOL’s price, as expectations remain high for traders and investors.
Crypto Expert Reaction to SOL Price
Market experts, including Trader1sz on X, believe the price may have bottomed out following a strong market bounce and the formation of bullish price action on the 4-hour timeframe, as the price will look to build on its gains.
If the price continues, we could see it maintain its rally towards $250 and beyond in the coming months.
FAQs
Is the Solana price going up or down?
Price cleared out its key liquidity zone, reclaiming its price above $200, as bulls aim to push the price higher.
What is the prediction for Solana?
The prediction for the price in the coming weeks to months remains $400 before the end of the year, based on expert predictions.
Is Solana a buy or sell today?
The price for today indicates a buy following a strong market rebound.
Related Read
