Solana (SOL) Price Holds Ultra Strong, Bulls Target $25 Today?
2023年4月28日 - 7:12PM
NEWSBTC
The price of Solana (SOL) faced a key directional decision in
recent days, and currently it looks like the bulls have the upper
hand after a tough battle with the bears. However, the SOL price is
not out of the woods yet. But a decision could come as early as
today. Solana Poised To Rally Above $25? The crypto market is still
heavily dependent on macro data from the US. And before the next
FOMC meeting is due next week, the PCE, the Federal Reserve’s
preferred inflation metric, will be released today at 8:30 am EST
(2:30 pm CET). This makes today the most important day of the week
February’s personal consumption expenditures (PCE) price index was
+0.3% on a monthly basis, below the forecast of +0.4%. For March,
analysts expect an unchanged increase of +0.3%. On an annual basis
(YoY), an increase of 4.5% is expected, up from 4.6% in the
previous month. If core inflation rates fall, a bullish reaction is
expected in the crypto market, and Solana is perfectly positioned
to deliver a massive upside bounce. Related Reading: Solana Faces A
Trend Decision, But The Bull Case Prevails As we discussed in our
analysis two days ago, SOL faced an extremely important trend
decision on the 1-day chart over the past days. Already since the
end of December 2022, Solana has formed an uptrend. However, the
ascending trend line (black) was tested by the bears several times
in the last few days. Currently, the SOL price is clearly above the
trendline again. Thus, if the PCE in the US is favorable today,
Solana could start a run towards the 200-day Exponential Moving
Average (EMA) (blue). Since Solana fell below the “bull line” on
April 8, 2022, it is still technically in bear territory. In
mid-April 2023, the first attempts failed. While Bitcoin and
numerous altcoins are already trading above the 200-day EMA, SOL is
still stuck below the trend indicator as a result of the FTX crash.
Related Reading: SOL Price Prediction: Solana Topside Bias
Vulnerable Unless It Surges Past $23 Holding the trendline could
now be the impetus that catapults SOL price back towards the
200-day EMA and into bull territory. The border line is currently
at $25.12. However, to confirm a new attempt, Solana needs to rise
above $22.78. If SOL manages to stabilize above this resistance
level, the buy side could again target the 200-day EMA. If this
succeeds, the yearly high at $27.13 comes into focus, where the
38.2% Fibonacci level is also located. Remarkably, the current
strength of Solana can also be seen in the SOL/BTC chart (1-hour).
At press time, SOL was just about to break the downtrend in the
lower time frame. A move towards 0.0008018 seems possible. Featured
image from Binance Academy, charts from TradingView.com
Solana (COIN:SOLUSD)
過去 株価チャート
から 3 2024 まで 4 2024
Solana (COIN:SOLUSD)
過去 株価チャート
から 4 2023 まで 4 2024