• Brandts Capital, a cryptocurrency dealer and analyst, shared a bullish outlook on SOL in a tweet.
• The dealer believes there may be nonetheless room for SOL worth to rise one other 100%.
• On the time of writing, SOL was buying and selling at $16.746, up 5.44% over the previous 24 hours.

Well-liked cryptocurrency dealer and analyst Brandts Capital shared a really bullish outlook on Solana (SOL) on Twitter. Based on the dealer, SOL has witnessed a stable and robust response from key help ranges, with a transparent three-wave drop when noticed on the upper timeframes.

The put up added that the value of SOL may rise one other 100%. CoinMarketCap, in the meantime, famous that SOL was one among many cryptocurrencies whose worth elevated within the final 24 hours of buying and selling.

On the time of writing, the altcoin has skilled a worth improve of 5.44% and is buying and selling at $16.746. Consequently, SOL was buying and selling a lot nearer to the day’s excessive of $17.12 than the 24-hour low of $15.76. Rising cryptocurrency costs additionally in the end pushed the weekly efficiency up by +10.23%.

Along with this, SOL’s 24-hour buying and selling quantity elevated by greater than 60% from the day past’s throughput to roughly $326 million. SOL reached all-time excessive (ATH) of $260.06 in November 2021. Since then, the altcoin worth has dropped by greater than 93%.

SOL worth had damaged out of key resistance at $16.744 in the beginning of at this time’s buying and selling session, however the bears shortly pushed the altcoin worth again beneath that stage. Nonetheless, SOL worth remains to be buying and selling above the 9-day EMA line on the time of this writing and can be attempting to interrupt out of the 20-day EMA line.

If the cryptocurrency worth can escape of the 20-day EMA inside the subsequent 48 hours, it can have a transparent path to the subsequent resistance at $19.844. Alternatively, if the digital foreign money fails to shut above the technical indicators over the subsequent two days, the SOL worth will probably be uncovered to the chance of a fall to $13.790 subsequent week.

Disclaimer: As with all info shared on this pricing evaluation, views and opinions are shared in good religion. Readers ought to do their very own analysis and due diligence. Readers are strictly liable for their very own actions. COIN EDITION AND ITS AFFILIATES SHALL NOT BE LIABLE FOR ANY DIRECT OR INDIRECT DAMAGES OR LOSSES.