B4Bit

07/08 02:12

Will Solana (SOL) Price Reach $200 in July?

Will Solana (SOL) Price Reach $200 in July?

Solana price seems to be closely following the other altcoins like XRP which set up a bullish case and further rise without making any noise. The bulls are currently facing a tough time in surpassing the local resistance zone between $152.51 and $154.43. They have been failing to breach above the zone since the start of the month, and hence, a successful attempt may turn the tables for the SOL price rally. 

As seen in the above chart, the Solana price has been trading within an ascending triangle and is very far from the apex. After rebounding from the local lows, the pullback aftermath of breaking the neckline of the head & shoulder pattern, the price is facing tough resistance. While the CMF has risen above 0, signalling a strong inflow of money into the platform. On the other hand, the DMI levels have been juggling along the average range since the start of the month. This suggests there is some scope for uncertainty over the SOL price in the short term. 

The long-term price action still remains bullish, with multiple events lined up, along with the market conditions changing in the coming days. Bitcoin price is believed to rise and mark new highs in the coming days; with this, the top 10 altcoins, including Solana, are expected to kick-start a new upswing. 

#Share Your Thoughts on Popular Assets in June#Claim1,200 USDT in the Monthly Creation Challenge

138Partilhar