Solana Price Prediction: Why the Bullish Trend is Likely to Continue

Solana has seen its prices rise by more than 40 per cent in the past two weeks. Solana’s price gain comes amidst an increased interest in the cryptocurrency that has seen its trading volume increase by almost 20 per cent in the past 24 hours.

The gain in traction of the cryptocurrency also coincides with the Solana Miami event that plans to showcase and celebrate builders, artists, merchants, and users of the Solana community. The event is expected to attract the large Solana community, where they can interact, talk about technology and the goals of the platforms.

The event is also expected to feature developers of the platform. Attendees will also use Solana products, such as their payment system, to purchase food and other items during the event. NFTs will also be showcased. Solana has also indicated an exclusive lounge space where people can learn more and unwind after a hard day of building.

Solana Price Prediction

Solana prices have broken out of the long-term descending channel. After hitting the support level of $77.69, which was also the 2022 price low, and failing to break to the downside.

Today, the prices are trading at $122, after gaining over five per cent. The prices are also bouncing from the long-term support level of $77.69. Since the current bullish move started on March 15th, the Solana has also gained more than 40 per cent in its value. However, looking at the daily chart below, we can see the daily prices approaching a long-term resistance level of $122.

Therefore, I expect Solana prices to trade at $122 in the coming days. This is because, based on the current bullish trend, it is highly likely that the prices will continue pushing upward until they hit the resistance level. There is also a high likelihood that they will break out to the upside once the prices hit the resistance level. There is a real chance of Solana trading at a $150 psychological level if that happens.

Solana daily Chart