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Solana (SOL) Prediction for August 29

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Thu, 29/08/2024 - 15:50
Solana (SOL) Prediction for August 29
Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Most coins from the top 10 list are bouncing off today, according to CoinStats.

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SOL chart by CoinStats

SOL/USD

The price of Solana (SOL) has gone up by 1.78% since yesterday.

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Image by TradingView

On the hourly chart, the rate of SOL is trading near the resistance of $145.99. If its breakout happens, there is a chance to see a test of the $150 zone shortly.

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Image by TradingView

On the daily time frame, the price is trading within yesterday's bar, which means neither bears nor bulls are dominating. In this case, sideways trading in the narrow range of $145-$150 is the more likely scenario until the end of the week.

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Image by TradingView

From the midterm point of view, buyers have failed to keep the growth. If the current weekly bar closes below $138, sellers may again seize the initiative, which might lead to a correction to the $130 mark.

SOL is trading at $146.60 at press time.

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