Despite Struggling with Recovery, Solana Price Expected to Hit a High Note at $48

In the past few days, Solana (SOL) has found itself facing a very critical situation. The price of Solana had successfully reached a strong level until the rally was shot down by the bears.

Solana Price is experiencing a Bearish Trend

A few days back, the trading price of Solana managed to come close to $37. The bulls were determined to push the trading price of Solana over the $37 mark.

However, as the bulls came close to hitting the $37 mark, the situation proved to be quite challenging for the bulls.

This was the point where the bears posed a great challenge against the bulls, which resulted in pulling the trading price of Solana.

The bearish attempt of the sellers finally worked in their favor and the bulls lost their confidence. This resulted in pulling the trading price of Solana down to the $32 mark.

The bulls are defending the Strong Support Mark

As the price of Solana was about to fall below the $32 level, the bulls started to buy it on a large scale.

Their strong buying power helped push the trading price of Solana close to the $33 mark. At the time of writing, Solana’s price has climbed enough ($32.96) that it is about to hit $33.

This means that the bulls are protecting the $32 mark with all their might. They may not let the bears build a selling spree strong enough to pull SOL’s price below the strong support level ($32).

Bulls Struggle for a Recovery

Although the bulls are determined to form a strong rally, still, they are not strong enough to push SOL’s price higher.

The bulls are aiming for a strong recovery but the selling power of the bears is proving to be a strong challenge for them.

This is the reason why the bulls are currently struggling to recover the price of Solana.

Road to High Price Begins at $37

For now, the bulls are trying to build a stronger force against the bears. Their target is to build a rally strong enough to push SOL’s price up to the $37 mark and go beyond the particular level.

If the rally prevails against the bears, then the trading price of SOL may continue to rise. This would allow the bulls to build enough force to push SOL over the $40 mark.

As the bulls keep building a stronger momentum with the rally, the price of SOL may continue surging. In the best-case scenario, the trading price of SOL may rise all the way up to $48.

With the implementation of Vasil Hard Fork and Merge Hard Fork for ADA and ETH respectively, it is expected that the trading price of SOL may find strong support.

This would help push the trading price of SOL way over the $48 mark as well.