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Solana (SOL) Price Prediction for February 29

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Thu, 29/02/2024 - 18:00
Solana (SOL) Price Prediction for February 29
Cover image via www.tradingview.com

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 of the cryptocurrencies keep setting new local peaks, according to CoinStats.

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SOL chart by CoinStats

SOL/USD

Solana (SOL) is one of the biggest gainers today, rocketing by 17.65%.

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Image by TradingView

On the hourly chart, the price of Solana (SOL) has set a local resistance level of $134.14. At the moment, one should pay attention to the daily bar closure. 

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If it happens far from that mark, there is a chance to see a correction to the $125 zone.

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Image by TradingView

On the daily time frame, there are no reversal signals yet. Until the rate is above the $120 zone, bulls remain more powerful than bears. In this case, there is a possibility to see a test of the $140-$150 area soon.

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Image by TradingView

A similar situation can be seen on the weekly chart. If the bar closes around the current prices, the upward move may lead to the test of $160 next month.

SOL is trading at $131.92 at press time.

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