SOL Major Breakout and Up 10% Weekly: Three Things to Watch Before $22 (Solana Price Analysis)

2023-09-20 11:45:02

Solana’s price has escaped the downtrend and turned green.

Key Support levels: $19

Key Resistance levels: $20, $22

1. Breakout in Progress

The price is just under $20 at the time of this post which represents a major resistance. If SOL can break above, then the path is clear to the next target at $22. The bias is bullish on this price action.

Chart by TradingView.## 2. Bullish Momentum Increasing

With the downtrend over, Solana can look forward to a sustained relief rally. This is contingent on the price breaking above $20. There is good support at $19 which can also act as a defense line should sellers attempt to stop this bullish momentum.

Chart by TradingView.## 3. Daily MACD Expanding

The last three days saw the daily MACD make higher highs at an accelerated pace in line with the price. If this momentum continues, then Solana could end the week closing in green with double digits. It already booked a 10% gain in the past seven days at the time of this post.

Chart by TradingView.## Bias

The bias for SOL is bullish.

Short-Term Prediction for SOL Price

Solana has picked up some solid bullish momentum lately. With the price currently on the edge of $20, buyers could eye the resistance at $22 next. Watch these two levels in the coming days as they are decisive for where SOL will go next.

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