Solana (SOL) Price Prediction for March 12

The prices of some coins keep rising, while others have entered a correction phase, according to CoinMarketCap.

SOL/USD

The rate of Solana (SOL) has increased by 0.45% over the last 24 hours.

Despite today’s rise, the price of SOL is looking bearish on the hourly chart. The rate is coming back to the local support level of $147.9. If the daily closure happens near it, there is a chance to see a breakout, followed by a move to the $145 zone.

On the bigger time frame, the rate of SOL has made a false breakout of the $152.64 level. At the moment, one should pay attention to how far the daily bar closes from that mark.

If it happens below yesterday’s peak, bears may locally seize the initiative, which can lead to a correction.

From the midterm point of view, it is too early to make any distant predictions as a few days remain until the weekly bar closes. However, if it happens above $153, the upward move is likely to continue to the $160 zone.

SOL is trading at $149 at press time.

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