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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

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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%.

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.

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.

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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