Solana Price Prediction: SOL Jumps 2% As This New Layer-2 Crypto Presale Surpasses $10.3 Million
The Solana price jumped more than 2% in the last 24 hours to trade at $187.48 as of 9:59 p.m. EST as investors slowly start to buy into the altcoin again. Despite the recent uptick, the SOL price is still down more than 6% on the 7-day time frame. Solana Price Forms A Negative Channel On The Daily Chart Daily chart for SOL/USD (Source: GeckoTerminal) A negative price channel has formed on the daily chart for the Solana price after the altcoin printed a series of lower lows and lower highs over the last couple of weeks. Should the crypto continue to trade within this negative range, it could soon test the immediate support level at $174.93. A break below this point might then lead to a plunge to as low as $158.13. This bearish thesis could be invalidated if the Solana price is able to break above the $194.41 resistance level, which is also confluent with the upper boundary of the bearish price channel. A daily candle close above this mark might then give SOL the room needed to k...