Price forecast for Solana and the 93 USD mark !!
- The tug-of-war between positive signals from the EMAs and the negative price pattern is currently converging at an important area. If SOL closes above 93 USD (exactly 92.99 USD) on the 4-hour chart, the price will break through the resistance of the right shoulder, opening up the opportunity to reach 97 USD – the peak of this pattern. This move also confirms the golden cross signal, affirming that the buyers are gaining strong dominance.
- On the 4-hour Solana chart, momentum is showing positive shifts. The 20-period exponential moving average (20 EMA), a metric that often reflects recent price movements more closely, has crossed above the 200-period EMA. This crossover has helped SOL rise by 5%
- Although the EMA signals are supporting an upward trend, the overall price pattern on the 4-hour chart since early March 2024 is quite negative. The head and shoulders pattern has formed, with the current right shoulder near the 92 USD price area.