Solana Price Analysis for September 22

Solana has been in the news for a good reason: SOL, its native token has outperformed older tokens beyond the wildest imaginations of watchers of the coin market. This is why the coin has been alternating between the sixth and seventh position based on its capitalization. SOL, which led the altcoin rally, lost 15% of its value on September 14 due to a major network outage on the Solana network.

In analysis of the price action of SOL using the One-month chart, it is obvious that the recent retraction is a consolidation phase as the trend-line shows. However, SOL has a solid support at $103.87.

However, we are aware that market sentiments lean towards critical values such as $120. A look at the SOL/USDT chart on September 22 shows that this support will be tested, it is an opportunity to make another buy order with the view of selling at $138.

Author: Olowoporoku Adeniyi

cryptocurrency evangelist with five years experience in the blockchain industry