Solana (SOL) Pricing Forecast for January 14

Despite significant fluctuations in prices over the past 24 hours, Solana (SOL) retained its decisive support of $ 175. Nevertheless, this volatility forced some whales to lose confidence and lose their assets, influencing the market today.

Crypto Whale Reset $ 22 million Sol

January 13, 2024, Whale Alert, transaction tracker based on the blockchain, published in X (previously Twitter) that the cryptocurrency whale dropped 122,620 SOL tokens in the amount of $ 21.75 million for the exchange of cryptocurrency kraken. However, the address of the wallet remains unknown.

This noticeable landfill was testified in the market when Sol fell below its important level of support of $ 175 and approached the level of $ 168. This initially shifted market moods and indicated that SOL exploded from its important level of support, signaling the bear’s bearish price. However, when the mood cooled down, Sol recovered above the support level and, according to the visible, is restored.

Solana (SOL) Price action and key level

According to expert technical analysis, the key level of SOL in the coming days is $ 175. Sol remains bull, if he holds this level of support. If he supports this level, there is a high probability that he can take off by 22%to reach $ 220 in the future.

Source: Trade view

Altcoin has currently returned to his consolidation zone, where he remained over the past four trade days. For intra -day traders, if SOL closes the hourly candle above the $ 193 mark, there is a high probability that it can be attested to the increase in prices by more than 7%to reach $ 207.

Nevertheless, the bovine thesis of Solana will take place only if Sol supports himself above the level of $ 175, otherwise he may fail.

Bull signal from technical analysis

From the point of view of the positive side, despite this decrease in prices, SOL was preserved above 200 exponential sliding average (EMA) in the daily time, which indicates an ascending trend.

In addition, the SOL (RSI) relative force index is located near the resale zone, signaling the potential price restoration that traders and investors expect.

The current price is impulse

Currently, SOL is trading about 183.3 US dollars and over the past 24 hours has survived a decrease in prices by 2.50%. However, during the same period, the volume of bidding increased by 240%, which indicates the increased participation of merchants and investors, which is potentially due to the current discounted SOL price.