The Solana Price rally blocked after reaching the barrier $ 150 earlier this week, but analysts remain optimistic that an explosive Bull Run is on the horizon. Optimism is notably high, since an analyst predicts that this rival of Ethereum could soon reach $ 4,500. Despite the analyst's too ambitious target, several indicators suggest the opposite.
Sol Value is today at $ 148, with a drop of almost 2% of the 24 hours caused by uncertainty on the larger market.
The analyst predicts that Solana Price will reach $ 4,500
While giving his Solana price prediction, popular analyst Ali Charts noted that Altcoin could be about to struggle at $ 4,500. He based his forecasts on the formation of a cup and management model on the weekly ground price table.
In order for this graphic model to be confirmed, Solana must overcome the resistance line on the handle and make a weekly closure above. If a break occurs, traders should anticipate a gathering up to $ 4,500.
Although the Ali graphics did not provide a calendar at the moment when this target could be reached, several factors suggest that it is unlikely that it will occur in the short term.
The reasons why Solana Price is recovered at $ 4,500 is unlikely
One of the reasons why a $ 4,500 Solana price rally is unlikely in the short term is the frenzy of sparkling memes on the ground blockchain which dropped the volumes of DEX soil, from $ 20 billion last week to 6 billion dollars at the time of the press, according to the press, according to the press, Defillama data. If the money frenzy of the solara meme dies, it could trigger a downward trend.
An increase in Solana prices at $ 4,500 in the short term is also a section because social volumes have been turning off. Santiment data show that soil social volumes have reached a peak of 2,579 in the middle of this month, but have since dropped to 165.
This drop suggests that there is fewer chatter concerning Solana, which highlights a low retail interest. In addition, looking at the previous trends, reduced social volumes have always coincided with a deleted performance of Solana prices.
Finally, quince financing rate data show that long -term merchants do not anticipate a short -term Solana price rally, not to mention one to $ 4,500. At the time of the press, the financing rate had overturned negative, which is a downward perspective because the traders open short positions to bet on a drop in prices.
Solara short -term forecasts while soil between consolidation
After having recorded a notable rise in trend for most of this month, Solana Price came into consolidation and was stuck in the $ 145 and $ 152 range for almost a week. An upward escape will only occur if buyers are ready to collect more tokens at these prices.
The RSI crossed above 50, and it turns the north, stressing that the bullish momentum begins to rise. If the RSI continues to increase, traders should anticipate that Solana Price to make more earnings and exceed $ 152 to aim for the level of resistance of $ 179. However, if the upward trend of the RSI weakens and plunges below 50, it could trigger a downstream break in consolidation.
To summarize, a solana prices rally at $ 4,500 is not realistic in the short term due to the negative financing rate, the drop in social volumes and the activity of the coin in fall. These factors have led to a consolidation range, as buyers remain hesitant.
Frequently asked questions (FAQ)
Solana Price can rest at $ 4,500 according to analyst Ali Charts, who has identified a cup and manipulation model. However, such a rally should not occur in the short term.
Negative financing rates show that open sellers have increased their positions on Solana. This highlights a lower perspective because they provide that the price will drop.
Solana Price will likely reach $ 180 in the short term if buyers can lead an escape from the current consolidation beach.
muthoni
Muthoni Mary is a seasoned analyst and writer of the cryptography market with more than three years of experience in dissection of blockchain trends, price movements and market dynamics. With a lively eye for technical analysis and an in -depth understanding of the measures on the chain, it offers insightful content and focused on data that helps investors navigate in the rapid world of digital assets.
Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
✓ Share: