The Solana-Sol price decreased by 4.2% this week, but with a high negotiation volume and the price targeting the level of $ 900, is the price preparing to penetrate a significant level of resistance?
The price of Solana (soil) faced the pressure for a short period, decreased by 4.2% in last week in the light of the recovery of the market, and its commercial volume increased by 19.4% in the last 24 hours, in reference to the renewed interest in the currency, even with the price reduced by 0.7%.
On the other hand, the increase in the momentum – in particular after the tradingshot analyst expected a possible increase of $ 900 – if the Solana price can exceed the level of resistance to $ 170, then Solana can become ready to increase the following price due to the renewal of interest and an increased activity on the network.
The aforementioned level of resistance corresponds to the average index of movement of the movement in 50 weeks, which is a level which has always been prevented from emerging the movements in the past, which makes it a warning threshold that interested persons should monitor; TRADINGSHOT estimates that the level of $ 97 represents a major level of support which can reduce any decrease.
However, if the Solana price can penetrate the level of $ 170 and the height above, it can first go to $ 350 to test the upper limit of the emerging chain style, then to $ 900 if the wider market momentum continues.
The expectations of Solana prices have been based on the next emerging trend since December 2022, when the price moves in the emerging chain style. Likewise, the weekly RSI has exceeded the signal line, indicating the growth of positive impetus, while the general mood of the market also turns to support risk assets.
On the other hand, the Trump administration recently indicated its desire to negotiate before applying complete customs tasks, which reduces geopolitical tension. It should be noted that the US economy decreased by 0.3% in the first budgetary quarter of the year, which could lead the federal reserve to reduce interest rates, which has always had a positive impact on high growth assets such as Solana.
This positive sign can lead to the big gains in Solana
Looking at the Daily Solana graphics board, we will notice the penetration of the price index of movement if of measurement in 21 days (EMA-21) during the last month, with strong volumes of trading.
The price will be supported by this indicator in the previous few days, because it approaches the critical level of resistance represented by the average satellite movement in 200 days, and the intersection of average mobility of average measurement will be carried out in 21 days and its scalp counterpart in 200 days to send a strong purchase sign, we previously divided 66% profits.
And if this happens, the price can reach the level of at least $ 270 when the average SIA index is penetrated, which means that the price of Solana can reach unprecedented levels this year with the continuous improvement of the general mood of the market.
However, Momentum indicators do not take care of emerging expectations, because the RSI index has decreased at the bottom of the signal line, while the MacD plan has recorded its first negative reading since April 11.
However, interested persons should monitor the main levels of support at $ 143 (medium movement that works as a variable level of support) and $ 133 (fixed support level), if the price succeeds in staying above these levels, this means that the upward trend is always strong. Solana’s price may not reach $ 900 soon, but get solid gains this year will remain possible if it can exceed the main levels of resistance in the coming days.
As for investors wishing to make profits that exceed temporary gains caused by the penetration of resistance levels, they may prefer to see digital currencies such as Solaxy (Solx) which can offer greater growth capacities.
The result of the subscription to resolve the second Solaxy layer is more than $ 33 million
The Solana blockchain faces the increase in pressure during peak periods, and Solaxy (Solx) seeks to solve this problem by providing a second layer solution to increase its expansion, designed to reduce congestion and improve performance. The second layer solution can work to cooperate with large wallets and trading platforms.
The project improves Solana’s efficiency by collecting transactions on the side blocks before sending it to the main network. The currency subscription was launched in December from last year and approximately $ 34 million in just 5 months, and the enthusiasm invests investors on what will offer the solution of the second layer of the whole technical system.
Solx – Basic currency to solve the second Solaxy layer – should have a huge demand once the protocol is widely adopted. Consequently, the first investors will benefit from the most important yields.
Interested people can also buy solx at the low subscription price of $ 0.001714.
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