Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Solana (SOL) Eyes $210 as It Approaches Make-or-Break Resistance Zone

Source Beincrypto

Solana’s price has maintained an upward trend in recent days, fueled by increased demand for the popular altcoin. Currently trading at $148.06, SOL has risen by 2% in the past week despite broader market stagnation.

This uptrend has brought SOL to a key resistance level at $148.16, which it is now attempting to break. If Solana manages to surpass this resistance, it could spark a rally toward $210 and beyond. But how soon can this breakout occur?

Solana Witnesses Uptick In Demand

Solana’s Relative Strength Index (RSI) is in an upward trend at 53.93 as of this writing. This indicator measures the coin’s oversold and overbought market conditions.

It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a correction. On the other hand, values below 30 indicate that the asset is oversold and may soon witness a rebound.

An RSI reading of 53.93 indicates that SOL buyers are gradually gaining strength, which could cause its price to maintain its uptrend.

Read more: Solana vs. Ethereum: An Ultimate Comparison

Solana RSI. Source: TradingView

Moreover, SOL’s positive Balance of Power (BoP) supports this bullish outlook. This indicator measures the strength of buyers versus sellers in the market. At press time, SOL’s BoP is 0.44, suggesting buyers are in control and attempting to push the price higher.

Solana BoP. Source: TradingView

SOL Price Prediction: A Succesful Retest Is Key

Solana is trading at $148.06, just below the resistance at $148.16. Since early August, this price level has seen significant selling pressure, with SOL attempting to break above it several times. Despite these efforts, each retest has failed to hold.

If the ongoing demand for SOL persists, the coin may rally beyond this resistance. A successful retest could trigger a surge toward $209.90, a high Solana’s price last reached in March.

Read more: Solana (SOL) Price Prediction 2024/2025/2030

Solana Price Analysis. Source: TradingView

However, a failed retest of this resistance line could send Solana’s price plummeting toward $110.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

16 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

16 hours ago

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Have Fed Rate Hike Headwinds Been Priced In? Gold Rebounds Strongly Toward $4,400, Poised for a New Rally As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological

Author TradingKey

Sep 18, Fri

As of the European session on September 18, gold prices (XAUUSD) extended Thursday's rebound, rising strongly in intraday trading to $4,399.75 today, just shy of the $4,400 psychological

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Sep 18, Fri

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Popular Symbols