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Bitcoin once again surpasses $63,000 and begins to recover from the recent low of $60,660. Outflows from ETFs have also weakened. In the midst of frustrating consolidation periods, investors believe in the strength of certain altcoins, including possibly SOL Coin. So, what does the current outlook tell us? How much could SOL Coin be worth?
Solana (SOL)
After significant losses due to resistance level sales, SOL Coin has now risen by nearly 10%. Currently, SOL appears to be maintaining its upward momentum and could gain rally momentum if it breaks the resistance between $157 and $160. At the time of writing, SOL Coin is at $153, not yet discouragingly far from the resistance level.
In a scenario where resistance is breached, SOL Coin will first target $175. The golden cross in the EMA reflects a dominant bullish sentiment. Of course, Bitcoin reclaiming the $63,000 mark is also positive for the future. If unemployment data is favorable for crypto and even a slight easing in inflation is seen, risk markets will begin pricing in more than two rate cuts this year. This situation will certainly motivate the bulls.
Currently, SOL appears to be maintaining its upward momentum, giving a rise signal between $157 and $160 while the RSI remains uncertain.
SOL Coin Price Prediction
What if SOL Coin starts to fall again? In that case, the targets will not be the $205 resistance but rather the supports at $133, $125, and between $94 and $85. For the long-term uptrend to continue, it is crucial that the SOL Coin price does not close below $85. And if this level is also lost? Then everyone should prepare for a doomsday scenario because SOL Coin could plummet to $19. In such an environment, other altcoins are likely to suffer significant losses.
Against Bitcoin, Solana recently experienced a rise from the 0.382 Fibonacci support to about 0.0021 BTC. If it breaks above the 0.00237BTC resistance before the week ends, SOL Coin could target the main resistance at 0.00268 BTC. This could lay the groundwork for a new attempt up to $205. And of course, no one can see the future.
