Solana Price Analysis: Following a 25% Weekly Surge, Here’s the Next Target for SOL

Key Support levels: $100

Key Resistance level: $130

After SOL hesitated around the $100 level, buyers finally took control and managed to push it above $110. The support at $100 was confirmed, and the next key resistance for SOL is at $130. The bullish momentum is strong, but the volume has been less impressive since the price moved above $100.

SOLUSDT_2022-03-28_16-47-191
Chart by TradingView

Technical Indicators

Trading Volume: SOL had excellent volume when it broke above $100. It is important for the cryptocurrency not to lose momentum as it moves higher.

RSI: The RSI is getting very close to 70 points which would put it into the overbought area. It seems likely for SOL to reach $130 before any significant pullback.

MACD: The daily MACD is bullish and continues to expand upwards. The first signal that a reversal could happen is when the histogram makes a lower high. So far, this is not the case.

SOLUSDT_2022-03-28_16-48-101
Chart by TradingView

Bias

The current bias is bullish.

Short-Term Prediction for SOL Price

After a successful breakout above $100, SOL’s price continued up, which is a strong bullish signal. This buying pressure has a good chance to take the cryptocurrency towards $130 if momentum maintains.

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Cryptocurrency charts by TradingView.