- Cryptocurrency dealer and analyst Bluntz Capital shared his constructive outlook for SOL in a tweet.
- The dealer believes that there’s nonetheless room for the value of SOL to rise by one other one hundred pc.
- At press time, SOL was buying and selling at $16.746 after gaining 5.44% within the final 24 hours.
Common crypto dealer and analyst Bluntz Capital has shared his bullish outlook on Solana (SOL) on Twitter. Based on the dealer, SOL skilled a robust and highly effective response from a serious help stage, adopted by a transparent three-wave decline when noticed in the long run.
The put up provides that there’s a likelihood that the value of SOL will rise by one other 100%. CoinMarketCap, in the meantime, indicated that SOL was one in every of a number of cryptocurrencies that noticed worth good points prior to now 24 buying and selling hours.
At press time, the altcoin was buying and selling at $16.746, up 5.44%. In consequence, SOL traded a lot nearer to its intraday excessive of $17.12 than its 24-hour excessive of $15.76. Additionally, the rise within the worth of the cryptocurrency additional boosted the weekly outcomes by +10.23%.
As well as, SOL’s 24-hour buying and selling quantity elevated by greater than 60% yesterday, bringing it to round 326 million. USD. in 2021 in November, SOL reached an all-time excessive (ATH) of $260.06. Since then, the value of the altcoin has fallen by greater than 93%.
Earlier in in the present day’s buying and selling session, the value of SOL broke above a key resistance stage at $16,744, however the bears shortly took the altcoin worth under the extent. Nonetheless, at press time, the value of SOL was nonetheless buying and selling above the 9-day EMA line and was additionally trying to break above the 20-day EMA line.
If the value of the cryptocurrency manages to interrupt above the 20-day EMA within the subsequent 48 hours, then it’ll have a transparent path to the following resistance stage at $19,844. Alternatively, if it fails to shut above the technical indicator within the subsequent 2 days, the value of SOL might fall to $13,790 subsequent week.
Disclaimer: The views and opinions, in addition to all info shared on this worth evaluation, are revealed in good religion. Readers ought to do their very own analysis and do their due diligence. Any actions taken by the reader are strictly at their very own danger. Coin Version and its associates won’t be held responsible for any direct or oblique injury or loss.
