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SOL Price Could Rise More Even After 6+% Increase In 24 Hours

SOL saw a more than 6% price increase over the last 24 hours.According to Mattew Dixon, SOL’s next target is $26.60.SOL’s 9-EMA line remains bullishly above the...
SOL Price Could Rise More Even After 6+% Increase In 24 Hours SOL Price Could Rise More Even After 6+% Increase In 24 Hours
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  • SOL saw a more than 6% price increase over the last 24 hours.
  • According to Mattew Dixon, SOL’s next target is $26.60.
  • SOL’s 9-EMA line remains bullishly above the 20-EMA line.

Today is certainly not a blue Monday for Solana (SOL) as the Ethereum-killer saw a more than 6% price increase over the last 24 hours to now trade at $24.19. In addition to this, the altcoin is also still in the green by more than 47% over the last week.

SOL also strengthened against Bitcoin (BTC) and Ethereum (ETH) by about 4.46% and 3.72% respectively over the previous day. SOL’s 24-hour trading volume, however, is currently down by more than 31% to now stand at $1,640,475,721.

With its current market cap of $8,855,601,487, SOL is ranked as the 10th biggest crypto. This places it right behind Dogecoin (DOGE) which is ranked 9th, and in front of Polygon (MATIC) in the 11th position.

Solana / US Dollar 4h (Source: TradingView)

The founder and CEO of Evai, Matthew Dixon, took to Twitter earlier this morning to share his thoughts on the price of SOL. According to Dixon, SOL’s next target is $26.60 “equating to 2.618x the red A wave”. He added that the price of the altcoin will then likely turn lower from there.

SOL / Tether US 1D (Source: TradingView)

A technical indicator on SOL’s daily chart seems to support Dixon’s belief that the SOL price might make an upward move soon. This is proven by the fact that SOL’s 9-EMA (Exponential Moving Average) line remains bullishly above the 20-EMA line.

The price of the altcoin has also been knocking on the door of the resistance at $24.26. If the crypto is able to close today’s trading session above this level, it could serve as further proof that SOL’s price is ready to rally.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post SOL Price Could Rise More Even After 6+% Increase In 24 Hours appeared first on Coin Edition.

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31-03-2024 10:19:50 (UTC+7)

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    EUR/USD 1.0793 Sell  
    GBP/USD 1.2624 Sell  
    USD/JPY 151.38 ↑ Buy  
    AUD/USD 0.6522 Sell  
    USD/CAD 1.3543 Buy  
    EUR/JPY 163.37 ↑ Sell  
    EUR/CHF 0.9738 ↑ Buy  
    Gold 2,254.80 Buy  
    Silver 25.100 ↑ Buy  
    Copper 4.0115 ↑ Buy  
    Crude Oil WTI 83.11 ↑ Buy  
    Brent Oil 86.99 Neutral  
    Natural Gas 1.752 ↑ Sell  
    US Coffee C 188.53 ↑ Sell  
    Euro Stoxx 50 5,082.85 ↑ Sell  
    S&P 500 5,254.35 ↑ Sell  
    DAX 18,504.51 ↑ Buy  
    FTSE 100 7,952.62 ↑ Sell  
    Hang Seng 16,541.42 Neutral  
    Small Cap 2000 2,120.15 Neutral  
    IBEX 35 11,074.60 ↑ Sell  
    BASF 52.930 ↑ Buy  
    Bayer 28.43 Buy  
    Allianz 277.80 ↑ Buy  
    Adidas 207.00 ↑ Buy  
    Lufthansa 7.281 ↑ Sell  
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