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Solana Price Prediction Archives » TronWeekly

By Published On: June 4, 20241.9 min readViews: 1820 Comments on Solana Price Prediction Archives » TronWeekly

A popular crypto analyst, Trader Tardigrade, shared an optimistic view on Solana (SOL). He pointed out that there’s no reason for him not to accumulate SOL at its current level. On the daily chart, Solana retraced towards a crucial support level and currently holds on to it, showing it’s set for a higher move.
Solana Price Prediction Archives » TronWeekly

Trader Tardigrade is also swaggering about a project within the Solana ecosystem: @SolChatCoin. These will bring a new communication protocol on the Solana blockchain, where users can send text, voice, and video calls within Web3.

The analyst stresses the importance of moving away from Web2 companies like WhatsApp that exploit user data and monitor our messages daily. Instead, #SolChat leverages Solana’s low gas fees for on-chain message storage and utilizes WebRTC for peer-to-peer calls, emphasizing user privacy through encryption.

Therefore, both Solana and @SolChatCoin present compelling opportunities, with SOL holding a key support level and @SolChatCoin promising a secure, private alternative to conventional communication platforms.

Solana Key Levels and Potential Trading Opportunities

Solana (SOL) is gearing up for possible trading opportunities. For SOL to maintain its bullish uptrend, it must reclaim and close above the crucial resistance level of around $171. If this resistance is not conquered, SOL will retest the lower $150 range, ultimately forming a critical support zone that will determine the next significant move by SOL.

If SOL prices dip within the $150- $155 area and consolidate a base with this area as a strong foothold of support, that will be an excellent area to bounce back up toward the midrange. This consolidation could trigger a sharp upward rally toward the critical resistance levels of $181 and an advance toward $196.

At the time of writing, Solana is trading at $165.57. Its 24-hour trading volume is decent and equals $3.55 billion. Its market capitalization is $74.41 billion. The price has slightly increased by 0.62% over the last 24 hours.

However, traders must closely watch the $171 resistance and the $150-$155 support area. Breaking above $171 may ignite the uptrend while holding the $150-$155 area might provide a good entry point for a rebound toward $181 and $196.

Related Reading |  Bitcoin Cash (BCH) Set for Rebound Towards $530 if $460 Support Holds, Analyst Says

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