Solana (SOL) Price Analysis
Solana, once considered dead after the FTX fiasco, has experienced an impressive surge of over 400% since the beginning of the year. Despite disappointing sales of Solana’s mobile device, the dog-themed coin Bonk has maintained a strong bull run, registering a remarkable 7000% appreciation in its value, indicative of the strengthening Solana ecosystem.
Solana’s price has initiated a healthy rebound from interim lows, surpassing crucial resistance and signaling the beginning of a minor bull run. The current trend suggests a potential move towards a 3-digit figure, but an immediate resistance, just 10% away from current levels, may impede further growth.
- The rise in the trend indicates a decrease in selling volume and pressure, showcasing growing strength among the bulls.
- The price, hitting its highest level since May 2022 after a 3-week cooldown, suggests a potential surge to $100 in the coming days.
- Indicators like RSI and MACD are flashing bullish signals as the token surpasses the crucial $71 resistance.
- Another 30% upswing can be anticipated, with a price target of around $90. In case of a bearish reversal, strong support is expected at $60.
Bonk (BONK) Price Analysis
Breaking the bearish trend since the beginning of the year, the BONK price has consistently printed massive bullish candles. Despite a minor pullback, strong dominance among bulls has kept the price above gains, and with the volume now in its favor, an upswing is expected to continue until the end of the month.
The BONK price is trading in an expanding channel, usually considered bearish in the long term but indicating a potential short-term upswing. With significant volume, the price is likely to maintain an ascending trend until it reaches the deciding level of around $0.0000527.
