bitcoinBTC/USD
$ 19,842.52
ethereumETH/USD
$ 1,118.48
tetherUSDT/USD
$ 0.999108
cardanoADA/USD
$ 0.452417
xrpXRP/USD
$ 0.321049
usd-coinUSDC/USD
$ 0.999075

Solana Price Prediction November 2021: Will SOL Reach $500 in November?

Solana Price Prediction November 2021: Will SOL Reach $500 in November?

SOL  Technical Analysis – November 2021

Monthly Analysis

Over the last 30 days, SOL has been bullish. The price has increased by around 88%, generating huge profits for SOL hodlers. The price of SOL has recently reached an all-time high at $260. This has placed in the top 5 rankings in crypto market rankings based on market capitalization. 

Monthly analysis of Solana (SOL)
SOL/USD in a 4-Hour Chart

Weekly Analysis

Despite increasing by 12% and reaching a new all-time high in the last 7 days, SOL is now retracing. The price has declined by 15% so far, but it recently found support at $220. This could be an indicator that the trend is now downward, as the new low is lower than the previous one. SOL is currently rebounding, and the upcoming resistance structure may tell if the trend is reversed or not.

Daily Analysis

In the intraday chart, the price of SOL has been rebounding and traders were bullish, taking advantage of the price dip. This has led to an increase of 12% in just the last 24 hours, meaning that buyers can move the price of SOL even higher in the coming hours if SOL does not face resistance.

Key Structures

Support

  • $219

Resistance

  • $250

Indicators

Moving Average

Despite the recent retracement, the 20-day moving average is below the price, indicating that the trend is still upward and that the price of SOL can keep increasing in the coming days.

The 9-day EMA was temporarily above the price, which could have led to a trend reversal. However, SOL is now rebounding and the EMA line is below the price once again. The EMA line could be a good structure of support in the short run.

Relative Strength Index

The RSI of a 1-day chart was recently above 70 and in the overbought region. This was a good indicator that the price would retrace. Currently, the RSI is below 70, indicating that there is room for more growth in the short run.

MACD

The MACD line had been above the signal line of a 1-day chart. However, the lines are now converging and may soon intersect. If that happens, then we could see SOL be in a bearish momentum in the new few days.

Fear & Greed 

The fear and greed indicator of a 4-hour chart suggests that the current emotion of SOL traders is fear due to the recent price retracement.

Fear and greed indicator for Solana (SOL)
Fear & Greed for SOL/USDT in a 4-Hour Chart

Fibonacci

The Fibonacci retracement levels suggest that SOL has recently found support slightly above the 61.8% Fibonacci level, indicating that the price could surge upward if selling pressure is low at key structures.

Fibonacci retracement levels for Solana (SOL)
Fibonacci Levels for SOL/USDT in a 4-Hour Chart

Price Prediction SOL  – November 2021

Based on this technical analysis of Solana (SOL), we could see its price increase again in the coming days. If resistance at $250 is broken during this rebounding phase, SOL could retest its all-time high. However, if the new high is lower than the previous one, the trend might be reversed, and SOL could go further down. Ultimately, it also depends on how BTC moves in the coming days, as the latter makes up the biggest portion of the whole cryptocurrencies market cap. If BTC approaches $100,000 in the coming weeks, SOL could even go as high as $500. That would place SOL above BNB in market rankings.

Latest News for SOL  – Affecting Price

Recently, it was announced that Brave Browser may soon integrate the Solana blockchain and give access to millions of users in the Solana ecosystem. Also, many coins are being launched based on the Solana ecosystem. There are many Solana coins to watch and this can greatly affect the price of SOL in the coming weeks.

Also read: Solana (SOL) Price Prediction 2021 and Beyond – Is SOL a Good Investment?

Also read:

Related News

Will KuCoin Token Reach $100 in 2022 – KuCoin Price Forecast

KuCoin is a popular cryptocurrency exchange because of its cheap fees and extensive range of features. The platform allows you to trade in futures and margin products, using a vast variety of tokens to pick from. The crypto exchange also has a native coin KuCoin Token (KCS). KuCoin’s numerous features, low costs, and wide range of cryptocurrencies make it a great choice for experienced cryptocurrency traders. But what about its

Read More »
Ethereum Price Prediction May 2022: Will ETH Reach $5,000 in May?

Ethereum Price Prediction May 2022: Will ETH Reach $5,000 in May?

ETH Technical Analysis – May 2022 Ever since hitting an all-time high in November of 2021 at around $4,800, the price of Ethereum (ETH) has been in a downtrend. Initially, the price declined by around 26%, and ETH ended the year at $3,500. That bearish momentum continued in January as well, where ETH declined by almost 45% in January alone. However, ETH managed to find support at $2,160, which then

Read More »
Bitcoin Price Prediction May 2022: Will BTC Reach $100,000 in May?

Bitcoin Price Prediction May 2022: Will BTC Reach $100,000 in May?

BTC Technical Analysis – May 2022 Ever since Bitcoin (BTC) reached its all-time high in November of 2021 at around $69,000, the price has been in a downtrend. The price initially declined by more than 30%. BTC ended the year at around $50,000.  In 2022, BTC maintained that similar approach, where the price declined by an additional 35% in the first few weeks of the year. After finding support at

Read More »

My Coins

bitcoinBitcoin
$ 19,842.521.91%
ethereumEthereum
$ 1,118.482.51%
cardanoCardano
$ 0.4524172.61%
tetherTether
$ 0.9991080.05%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org