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Cryptocurrency News Articles

Solana (SOL) Price Prediction 2025: Will SOL Break Above the $300 Mark?

Nov 28, 2024 at 05:33 am

The Solana price prediction shows that SOL could break above the 9-day moving average and head toward the channel's upper boundary.

Solana (SOL) Price Prediction 2025: Will SOL Break Above the $300 Mark?

The price of Solana (CRYPTO: SOL) recently lost support at $244, a level that has previously served as a springboard for bullish rallies. Its failure to hold this support has shifted the focus to lower levels, with $220–$215 emerging as the next critical zone on the daily chart. On the upside, resistance at $245 remains pivotal. A break above this level could signify the return of bullish momentum, with subsequent targets at $259 and $264, aligning with prior peaks.

Solana’s daily chart shows consolidation within the channel, signaling the potential for a major move depending on whether the $245 resistance is breached or the $220 support fails. A bullish breakout above the 9-day and 21-day moving averages could drive prices toward $280, $290, and $300, while a breakdown below the channel’s lower boundary may lead to declines to $185, $175, or $165. The current trend remains uncertain, with price direction hinging on buyers’ ability to reclaim key levels or further bearish momentum pushing the coin lower.

Against Bitcoin, the Solana price is moving bearishly below the moving averages, and if the sellers increase the pressure, it could swing low to cross below the lower boundary of the channel which could locate the support level of 2300 SAT and below. On the other hand, if the market price crosses above the 9-day and 21-day moving averages, it could reach the resistance level of 2700 SAT and above.

Meanwhile, the 9-day moving average remains above the 21-day moving average which could mean that the market is likely to follow the bullish movement. Therefore, any bullish movement towards the upside may create additional gains within the channel.

News source:insidebitcoins.com

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