Solana
Solana (SOL) Price Prediction for July 16
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Buyers are trying to maintain the initiative they have gained, according to CoinMarketCap.
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SOL/USD
The price of Solana (SOL) has increased by 3.51% in the last 24 hours.
Image of TradingView
On the hourly chart, SOL price is on its way to the local resistance level of $158.67. If the situation does not change by the end of the day, we can expect a breakout, followed by a move towards $160.
Image of TradingView
On the daily chart, it is worth paying attention to the peak of yesterday’s bar. If the candle closes near the $160 area, the upward movement may continue to the $170 area.
Such a scenario remains current until the end of the week.
Image of TradingView
From a medium-term perspective, traders should pay attention to the bar closing. If it occurs near $160 and above, the accumulated energy could be enough to test the $180 area until the end of the month.
SOL is trading at $157.27 at press time.
About the Author
Denys Serhiichuk
With over 5 years of trading experience, Denys has a deep understanding of technical and fundamental market analysis. He has notably launched his blog on TradingView where he publishes all the relevant information and makes predictions on the main cryptocurrencies.
Thus, his experience is strengthened by his work in leading blockchain-related companies such as W12, Platinum Listing, ATB Coin and others, and can be contacted at denys.serhiichuk@u.today.