Arthur Hayes, co-founder of BitMEX, in an X post he shared today solana He stated that the price has increased considerably. Hayes says the altcoin price may rise to $100 in the coming days predicts.
Fuck ya couch … $LEFT = $100 pic.twitter.com/8nnfJcnwRX
NEWS CONTINUES BELOW— Arthur Hayes (@CryptoHayes) December 8, 2023
If this prediction Solana priceIt comes shortly after it managed to break above a key resistance level in the last 24 hours. During this time, SOL surpassed the $70 level. At the time of writing, the price was trading at an average of $73.
If Solana closes a daily candle above $70 today, it may have created the foundation needed to move towards $100. Supporting this bullish thesis is an ascending triangle formation forming on the altcoin’s daily chart. This particular pattern emerged after SOL recorded a series of higher lows, indicating that SOL may soon move higher.
In addition to the bullish chart formation, technical indicators on SOL’s daily chart were also pointing up. The first indicator that investors will want to pay attention to is the Moving Average Convergence Divergence (MACD). Over the last 48 hours, the MACD line has crossed above the MACD Signal line, which may indicate that SOL’s positive trend will continue.
On the daily chart of SOL, it is seen that buyers have the upper hand over sellers. This was clearly visible by the Relative Strength Index (RSI) indicator. With the RSI line positioned above the RSI Simple Moving Average (SMA) line, it may be easier for the bulls to push the SOL higher than for the sellers to push the price lower over the next few days.
This bullish thesis remains on the cards as long as Solana remains above $70. If it closes a daily candle below this level, it could be at risk of correcting up to the next important support level at $49.65 in the next 2 weeks.