Solana Price Analysis: Bulls Eye $230, $395, and $850 Targets

Solana Price Analysis: Bulls Eye $230, $395, and $850 Targets

Introduction

Solana (SOL) is a high-performance blockchain that has seen rapid growth in recent years. The SOL token has reached new all-time highs in 2021, and many analysts believe that it has the potential to continue to grow in the years to come.

In this article, we will take a look at the technical analysis of Solana. We will discuss the factors that have been driving the price of SOL higher, and we will identify potential target prices for the token.

Technical Analysis

The SOL/USD chart shows that the token has been in a strong uptrend since the beginning of 2021. The price has broken through several resistance levels, and it is now approaching its all-time high of $260.

The RSI indicator is above 70, which suggests that the token is overbought. However, the MACD indicator is still bullish, and the price is still above the 50-day moving average.

Target Prices

Based on the technical analysis, we believe that SOL has the potential to reach the following target prices:

$230
$395
$850
These target prices are based on the Fibonacci retracement levels. The 0.618 Fibonacci retracement level is at $230, the 0.786 Fibonacci retracement level is at $395, and the 1.0 Fibonacci retracement level is at $850.

Conclusion

Solana is a high-performance blockchain with a bright future. The SOL token has been in a strong uptrend since the beginning of 2021, and we believe that it has the potential to continue to grow in the years to come.

We believe that SOL has the potential to reach the following target prices:

$230
$395
$850
These target prices are based on the Fibonacci retracement levels.



This article is for informational purposes only and should not be considered as investment advice. Do your own research before making any investment decisions.

Trade closed: target reached