The Solana price prediction was strongly bullish on the higher timeframes and the all-time high at $259 is likely to be superseded.
had traded within a range between $122 and $187 for nearly six months, but has successfully broken out above the range. Theover the past week. It is expected to trend upward, with a potential pullback toward $184 in the coming days.The range breakout was a strongly bullish scenario and it occurred on high trading volume. The CMF was at +0.21 to show significant capital flows into the SOL market. Taken together, it was a firmly bullish sign for Solana.
The Fibonacci levels based on the February and March rally showed that the next bullish targets are $241 and $291. The bullish euphoria in the market could see sizeable pullbacks, but Solana is primed for a long-term uptrend. The Awesome Oscillator has remained above zero for the most part of the past six weeks, showing momentum was on the buyers’ side. Therefore, further gains are expected. The 2024 high at $210 could oppose the bullish trend.The 1-month look-back period liquidation heatmap showed a cluster of liquidation levels between $202 and $225. Hence, the area is likely to stall Solana buyers for a while, and could also force a short-term trend reversal.
To the south, significant liquidity was present at $150. A pullback so far south appeared unlikely, with Bitcoin trading above $70k. A look at the 48-hour heatmap underlined the $184 level as a short-term magnetic zone. It could attract prices toward it before a move higher.Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionAkashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017.
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