Solana bulls aim to conquer $115 price resistance: What’s next?

Solana price analysis for March 30, 2022, confirms that the chances of SOL breaking below the $110 price level seem low as the smart contracts token has been making big moves recently. Moreover, the SOL price analysis for March 29, 2022, also noted that the token broke above the $105 price level and is currently trying to consolidate above the price level of $111 and make a move towards $120 in the near future. The SOL price has surged 2.03% in the last 24 hours. 

The data from CoinMarketCap shows that the trading volume for SOL surged by 11.79% in the last 24 hours, followed by a 1.43% surge in the market cap. The Market Dominance of the Solana token rose to 1.69%, while the Volume / Market Cap Ratio stands at 0.08577.

The daily candle for Solana was initiated at a price of $111.62 and reached a daily high of $112.71. Furthermore, the daily low for SOL was seen at $107.11, while the price of 1 SOL at the time of writing is $112.12.

Solana price analysis from the daily chart for March 30

Solana price analysis for March 30 will take into account the data from the chart below which has 3 major indicators on the daily chart integrated into it.

Source: TradingView

The RSI indicator on the daily chart shows a value above 68 which means that the bulls are in control overall and we might see Solana make a move towards $120 in the coming days.

The price action for SOL is currently in the bullish zone as we saw SOL break out of the upper end of the Bollinger Bands. 

The chances of SOL breaking above the resistance of the $120 price zone seem high as the MACD indicator shows that the MACD line remains above the signal line and the histogram is bullish as well. 

Conclusion

Solana price analysis for March 30, 2022, ends on a bullish note for the token as chances of breaking $120 seem high.