The post Attention Traders! This Altcoin is all Set to Explode by More than 26% Very Soon appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The Solana price since the beginning of April maintained a huge descending trend that dragged the price below the 3-digit figure. However, the recent flip uplifted the price above $100 which reached $110 and woefully followed by a drain close to the same levels. Interestingly, the recent swell in the buying pressure-assisted the price to maintain elevated. And hence the market participants can now expect a significant upswing in the SOL price.
After a strong drop in the first few days of 2022, the price maintained its swing between $81 and $136. With fewer chances of a breakout from either of the levels, SOL price maintained a significant trend. No doubt the bulls tried to range high but the bulls were severely hammered down at the beginning of the current month’s trade.
After the recent downward trajectory of the SOL price that slashed the price by more than 27%, the price is consolidating very hard along with the lower support at $102. The extended consolidation appears to be a preparatory action before the upcoming massive leg up. Therefore, a huge influx in the buying volume is much expected which may uplift the price by a minimum of 20%. And hence the traders can expect a retest of the immediate resistance at $118.81.
With mounting buying pressure, the Solana price may surge a minimum of 20% to test the crucial levels at $136. However, the surge also carries the possibility of a correction, which may try to drag the price below $120. But this time the momentum may be pretty bullish as the Bitcoin prices are expected to range high as the monthly close approaches. Therefore a significant upswing may be incoming for the SOL price anytime from now.