Bold Crypto price prediction, expect a 20% increase for SOL

Crypto analysis:

Solana's price is looking up as it confirms a change in direction – expect a 20% increase for SOL

 

Crypto analysis by Cryptocrit

Solana (SOL) has gone up in price, and this tells us a few important things. First, it's no longer on a downward trend. The price went above a certain point that used to be a high during the downtrend, which is a good sign.

Second, the price didn't go down below a certain point; it actually went up a bit. This point used to be the highest during the downtrend.

Lastly, the price went up again after going down a bit. It reached a new high compared to the recent past.

Crypto price prediction: (SOL 4 hr. chart analysis)

Right now, Solana's price is at $26.35, which is 8% higher than it was 24 hours ago. This jump in price showed that it's testing a level where there's a lot of selling happening, around $24.86. Many people are selling at this price, making it hard for the price to go higher.

By looking at something called the Relative Strength Index (RSI), we can see that Solana's price could go even higher. The RSI is like a mood indicator for the price. Right now, it's showing that buyers are pretty confident, and they might push the price up even more. It's not too high yet, but if it goes too high, it could mean people are buying too much, and the price might drop.

Another thing called the Awesome Oscillator (AO) also suggests that the buyers are in control. This supports the idea that the price will keep going up.

If more people buy Solana, the price could go up by 20% and break that tough selling level at $24.86. If things get super positive, Solana might even reach a price of $30.00. In a really good situation, it could even reach a high price it had on July 12, around $32.00, which is 30% higher than it is now.

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But, if people start selling because they want to take their profits, the price might stop going up. It could even go back down to $20.00. In a bad situation, the price might go all the way down to $17.84.

If the price falls below $17.84, it would be a sign that the positive trend is over, and the price might go down even more, maybe to a low point of $16.48. That would be a 30% drop from where it is now.

Conclusion:

Solana (SOL) has displayed a bullish reversal, breaking above its prior downtrend levels, with its price at $26.35, marking an 8% increase in 24 hours. The Relative Strength Index (RSI) and Awesome Oscillator (AO) indicators support this upward momentum. A potential 20% rise to $30.00 and even reaching $32.00 is feasible, but profit booking could lead to a retracement to $20.00 or, in a dire scenario, down to $17.84, which would signify a 30% decline.