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Solana (SOL) Price Analysis for January 18

Wed, 01/18/2023 - 15:34
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Denys Serhiichuk
Does Solana (SOL) have enough effort to continue rising?
Solana (SOL) Price Analysis for January 18
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Despite the bears' pressure, the rates of most of the coins keep rising.

Top coins by CoinMarketCap


The price of Solana (SOL) has fallen by 1.74% over the last 24 hours.

SOL/USD chart by TradingView

On the hourly chart, the price is coming back to the resistance level at $23.24 against the increased volume. If bulls can hold the rate around it until the end of the day, the growth may continue to the $24 zone tomorrow.

SOL/USD chart by TradingView

On the bigger chart, the price has almost touched the support at $21.98. At the moment, there are no bullish or bearish signals as none of the sides has accumulated power for a further move.

Binance Coin (BNB) Price Analysis for January 16

However, if the rate gets back to the $24 mark, the breakout of the resistance at $25 may lead to sharp growth to $27.

SOL/BTC chart by TradingView

On the daily time frame against Bitcoin (BTC), the price has made a false breakout of the support level at 0.0010682. However, if the sellers' pressure continues until the end of the day, the fall may lead to the test of the 0.0010 zone soon.

SOL is trading at $23.05 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at