Solana is Trading -22.35% Below Our Price Prediction for Mar 22, 2024

Finance

Solana is Trading -22.35% Below Our Price Prediction for Mar 22, 2024

• Solana is down -4.50% today against the US Dollar

• SOL/ETH increased by 2.42% today

• Solana is currently trading 22.35% below our prediction on Mar 22, 2024

• Solana gained 62.06% in the last month and is up 714.55% since 1 year ago

Solana price	$ 183.38
Solana prediction	$ 236.16
Sentiment
Fear & Greed index
Key support levels	$ 173.86, $ 166.43, $ 154.78
Key resistance levels	$ 192.93, $ 204.57, $ 212.00

SOL price is expected to rise by 29.58% in the next 5 days according to our Solana price prediction

Solana price today is trading at $ 183.38 after losing -4.50% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.47% in the same time period. SOL performed well against BTC today and recorded a 0.84% gain against the worlds largest cryptocurrency.

According to our Solana price prediction, SOL is expected to reach a price of $ 236.16 by Mar 22, 2024. This would represent a 29.58% price increase for SOL in the next 5 days.

SOL Price Prediction Chart

Buy/Sell Solana

What has been going on with Solana in the last 30 days

Solana has been displaying a positive trend recently, as the coin gained 62.06% in the last 30-days. The medium-term trend for Solana has been bullish, with SOL increasing by 162.30% in the last 3 months. The long-term picture for Solana has been positive, as SOL is currently displaying a 714.55% 1-year price change. On this day last year, SOL was trading at $ 22.51.

Solana reached its all-time high price on Nov 06, 2021, when the price of SOL peaked at $ 259.52. The current SOL cycle high is $ 197.15, while the cycle low is at $ 8.12. SOL has been displaying high volatility recently – the 1-month volatility of the coin is at 18.05. Solana recorded 17 green days in the last 30 days.

Solana technical analysis for today – Mar 17, 2024

The sentiment in the Solana markets is currently Bullish, and the Fear & Greed index is reading Extreme Greed. The most important support levels to watch are $ 173.86, $ 166.43 and $ 154.78, while $ 192.93, $ 204.57 and $ 212.00 are the key resistance levels.

Bullish sentiment for Solana

25 indicators are currently signaling a bullish prediction for Solana, while 7 indicators are showing a bearish forecast. With 78% of indicators favoring a positive prediction. This results in an overall sentiment for Solana.

Crypto market is currently experiencing Extreme Greed

Currently, the Fear & Greed index is at , which signals that investors have a positive outlook on the market.

Solana moving averages & oscillators

Let‘s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Solana is positioned in the market right now.

Period	Daily Simple	Daily Exponential	Weekly Simple	Weekly Exponential
MA3	$ 147.82	$ 136.05	–	–
MA5	$ 149.55	$ 124.83	–	–
MA10	$ 147.62	$ 109.15	–	–
MA21	$ 135.48	$ 91.53	$ 420.25	$ 81.51
MA50	$ 116.24	$ 70.39	$ 186.64	$ 56.82
MA100	$ 104.02	$ 53.80	-$ 10.11	$ 40.17
MA200	$ 69.12	$ 40.89	–	–

Period	Value	Action
RSI (14)	84.15
Stoch RSI (14)	100.00
Stochastic Fast (14)	93.54
Commodity Channel Index (20)	66.67
Average Directional Index (14)	37.64
Awesome Oscillator (5, 34)	34.63
Momentum (10)	57.58
MACD (12, 26)	4.30
Williams Percent Range (14)	-6.46
Ultimate Oscillator (7, 14, 28)	72.39
VWMA (10)	156.56
Hull Moving Average (9)	176.76
Ichimoku Cloud B/L (9, 26, 52, 26)	143.44

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Solana is at 84.15, suggesting that SOL is currently overbought.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Solana over the last 50 days. Currently, Solana is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline thats calculated by taking an average of the SOL closing price for the last 200 days. SOL is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Solana prediction

After considering the above factors, we can conclude that the current forecast for Solana price prediction is . SOL would have to increase by 29.58% to hit our $ 236.16 target within the next five days. Moving forward, it will be important to monitor the SOL market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility.