SOL Price Prediction – Buyers Need To Be Very Careful

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By Crypto Vibe

The Solana holders have been in the hots and colds of the price trend over the past few weeks. If we look at the six-week progress chart, the SOL price has witnessed an unstoppable rise gaining more than 500%. This desperate rise in the price is quite concerning for crypto experts across the globe. Keeping in view the past price trends and predictions, SOL has definitely risen above the previous trading prices. However, the 500% rise is not being seen as normal. Crypto experts are warning buyers at this moment to beware of the outcomes. Does it mean that Solano is going to drop? Let’s find out the SOL price prediction.

June-July Crunch

As we can recall, the months of June and July took the crypto enthusiasts by complete uncertainty. The whole market was under pressure in July after finding stability in the month of June. BTC was trading below $30,000 while ETH stood close to $1,700. In the same timeline, Solana traded at $22.00.

While the above-mentioned stats might be valid, here we are stepping into the second week of September with surprisingly high price momentum for SOL holders. Solana has achieved a new record of $152 which is almost 150% higher as compared to the previous high witnessed in May.

SOL Price Prediction

SOL price prediction

While many crypto users have reservations regarding how SOL hit the high figures, the simplest logical answer is the return of trust into the crypto market. Keeping in view the massive rise in the Solana price, and also reviewing the daily charts, it seems like SOL has taken a dip into the overbought territory for now. Although the price pulled back at $142 back from $152, the Relative Strength index reads 82.25 which is incredibly high. It is quite tricky to give the SOL price prediction in the current market behavior. However, if SOL trades down to $100 by any chance, the liquidation could force it to find support at $83.00. On the flip side, if the price continues to go higher, the retail investors will worry about missing the opportunity. This could further give a rise to the SOL price. But it doesn’t seem like reaching that point.

Please note that our SOL price prediction is based on the expert weekly and daily chart analysis, and is not a piece of financial advice.