Solana (SOL) is a fast and safe blockchain ecosystem that provides a robust platform for developers to build DeFi, Web3, and blockchain gaming apps. SOL is the native token of this network. Past Performance As of March 5, 2021, the opening price of SOL was $13.07. On March 11, 2021, it closed at $16.03. Thus, in the past week, the SOL price has surged by roughly 23%. In the past 24 hours, SOL has traded between $13.67-$16.50. https://ift.tt/38xRsKS Day-Ahead and Tomorrow This morning, SOL started trading at $16.05. As of now, it is trading at $16.14. Thus, the price is rising and the market seems healthy. The MACD and signal lines are positive. But, they are close to the zero line and may turn negative soon. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, we can expect a price pullback. At present, the RSI indicator is at 43%. A couple of hours back, the RSI was in the ‘overbought’ territory. Thereafter, it fell to the current level. It faced rejection at 57% twice. Thus, selling pressures are high, and we can expect a price dip. However, the OBV indicator is upward sloping. This is a strong indicator. Thus, buying volumes are higher than selling volumes. There is a bullish divergence here. Hence, we can expect the price to go up, but with some struggles as the other oscillators have indicated a price pullback. SOL Price Analysis Currently, the SOL price is above the Fibonacci pivot point of $15.40. We can expect the price to break out of the first Fibonacci pivot resistance level of $16.48, in some time. As there are indications of a price drop, the SOL price may test the 23.6% FIB retracement level of $15.83 in a couple of hours. If it successfully breaks out of this level, we can expect the upward momentum to continue today and tomorrow as well.
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