Solana Price returned upside down after the snap of a three-day loss of stripes on Monday. The solution pair climbed 1.9%, with a coin trade at $ 150.85 at the time of press. By reclaiming the psychological level, Sol increased the anticipation of rehearsal to seven weeks high of $ 157, reached it last week. Outlining the $ 160 mark as close resistance resistance this week.
The Sol's Surge came to the heels of the news that the Defi Development Corporation applied to the Securities and Exchange Commission (SEC) to buy $ 1 billion worth of coin. The company has previously run as a commercial lending company to real estate and currently owns $ 48 million worth of Solana. It aims to raise new funds through equities. Such a large purchase emphasizes the powerful institutional appeal of the coin, which favors the continued prediction of Solana's price to the reverse.
However, Solana -based coins based in Solana have been unchanged in recent weeks, not folding their strong performance recorded in March. That is likely to limit the Sol utility and the Solana price prediction to that point is tilt to the downside. Meanwhile, the RSI of the coin is at 57 to the 4 -hour chart at the time of writing, confirming bullish control. However, reading the average index direction (ADX) was at 17, which signed a weak upward trend. A continuation of the same will limit Solana's prices.
Solana's price prediction
In the chart below, soluble pivots at $ 149.50. The coin is likely to meet the initial resistance to $ 57.70. Breaking the upper level will indicate a stronger momentum that can take the action higher to meet the second obstruction to $ 153.45.
On the other hand, destroying below $ 149.50 will change momentum on the downside. That is likely to see the first support level established at $ 147.95. The action below that level will prove the reverse narrative. In addition, an extended control of the sellers may lead to additional solurs' price losses to test second support to $ 146.20.
