Solana Price Prediction for Today, November 6 – SOL Technical Analysis

By Crypto Gloom On Nov 7, 2024

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Solana price prediction continues the bullish trend again, crossing the moving average and reaching a daily high of $190.14.

Solana Forecast Statistics Data:

Current Solana price – $190.08
Solana market cap – $88.6 billion
Solana circulation volume – 471.02 million
Solana total supply – 587.96 million
Solana CoinMarketCap Ranking – 4th

Getting involved early in Solana (SOL) has proven to be very rewarding, with the token soaring more than 37,131% from its all-time low of $0.5052 in May 2020. Currently trading between $164.68 and $188.49 over the last 24 hours, Solana has experienced notable growth. However, this is 27.67% lower than the all-time high of $260.06 in November 2021. This impressive trajectory highlights the potential benefits early adopters can reap from promising cryptocurrency projects.

SOL/USD market

Main level:

Resistance levels: $205, $215, $225

Support levels: $150, $140, $130

Solana Price Prediction for Today, November 6 - SOL Technical Analysis — SOLUSD – daily chart

SOL/USD currently highlights recent bullish momentum and outlines key levels to watch. However, expectations of regulatory changes after the 2024 US elections have contributed to market optimism, especially for assets such as Solana. With SOL/USD heading toward $200, this analysis focuses on the potential for further price upside if certain resistance levels are violated. This setup is supported by recent market conditions, which could lead to sustained gains if important support zones hold.

Solana Price Prediction: SOL Bulls May Favor the Bulls.

According to the chart, SOL/USD broke the $165 level, establishing this area as a new support zone. Key resistance is currently at $186, and strong buying interest is needed to break above this level. A successful breach of this level would allow SOL/USD to target the next important price area between $200 and $210. This area represents a near-term target that, if reached, will validate continued bullish momentum and further strengthen Solana’s technical setup.

Moreover, the current trend is still favorable to the bulls as technical indicators such as the 9-day moving average are hovering above the 21-day moving average. However, a successful break above the $205 and $215 resistance levels could potentially see the coin rise above the $225 resistance level. Conversely, a bearish move below the lower border of the channel could lead to support levels at $150, $140, and $130.

SOL/BTC upward movement begins

Compared to Bitcoin, SOL/BTC continues its upward trend and is trading above the 9-day and 21-day moving averages. Bulls are actively pushing price towards the top of the channel. A further bullish move above this barrier could potentially push the price towards resistance levels above 2700 SAT.

However, if SOL/BTC decides to change course and follow the downward trend, a slide towards the lower boundary of the channel could lead to important support levels below 2250 SAT. The 9-day moving average may need to break above the 21-day moving average to indicate potential upward momentum.

Nonetheless, @AltcoinScholar, a prominent analyst on The immediate target range for this surge is expected to be $190 to $192.

$SOL Escape!

The immediate target is $190-$192.

LFG @Solana pic.twitter.com/CCIvsVOlqw

— Altcoin Scholar (@AltcoinScholar) November 6, 2024

Alternatives to Solana

Currently, Solana price remains above the 9-day and 21-day moving averages after a significant rebound from the low of $166.69. This trend suggests that bulls are controlling the price action and could push the coin above the upper boundary of the channel. In a related development, Pepe Unchained, positioned as a layer 2 solution, provides a decentralized gateway to various financial utilities such as trading, bridging, and staking, with the goal of building a more comprehensive DeFi ecosystem around the popular Pepe meme. Meanwhile, the token has raised over $25 million in its ongoing pre-sale phase.

Will PEPE UNCHAINED be the best MEME coin to invest in after the US election?

Pepe Unchained has made a significant impact, raising over $25 million in pre-sales, demonstrating strong community support and investor confidence. This impressive funding milestone highlights the long-term growth potential of the token as it aims to offer advanced DeFi features such as cross-chain compatibility, staking, and decentralized exchanges. Now is a great time to consider investing, as early supporters have the opportunity to participate in this promising project from the beginning and capitalize on its growth potential.

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