Solana Market Analysis & Price Prediction || 31 March, 2024 || Steem Alliance

Assalamu Alaikum friends,
Ramadan Mubarak everyone. Hope everyone is well and healthy. And shortly after Bitcoin halving and halving, Bitcoin mining rates will decrease by 50% and this will have some kind of impact on the cryptocurrency market. Because, 50% of the fresh bitcoins coming to the market will be off. So its impact will affect the crypto market.

In today's blog I will do market analysis and price prediction of Solana coin. I will do this whole process with my side of view, so it may not match the prediction or analysis of many. But I have tried to analyze it completely in accordance with Parton. So let's get started without delay:-

Solana has been performing well for the past few months. The coin suffered a coding error a few months ago, causing its price to dump. But, its developers are able to easily fix its bugs and make it back to normal. As a result Solana blockchain started running smoothly.

Solana went down to $8 during this bad period and is now at $196 by pumping the price very easily and quickly from there. Today's blog is a detailed discussion.


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[4 hour Candle](https://steemit.com/submit.html?category=hive-150122)




^{ScreenShots From TradingView}



The Symmetrical Triangle pattern has formed on the 4-hour time frame. In this pattern, when the breakout is to the upside, its price rises and when the breakout is to the downside, the price dumps. But, as we can see in the screenshot above, according to the 4-hour candle, the breakout is much more likely to be on the upside. Hence, it is expected to break out to the upside and pump up the price.



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[1 Day Candle](https://steemit.com/submit.html?category=hive-150122)





^{ScreenShots From TradingView}


Like the 4-hour candle, the 1-day candle creates its own movement according to the Symmetrical Triangle. So it can be said that Solana has a high chance of pumping the price even in this time frame.

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[1 Week Candle](https://steemit.com/submit.html?category=hive-150122)





^{ScreenShots From TradingView}


This time frame is very important for long term holding or investing. Because, if you want to invest in the long term, it is very important to know what happened in the long term past. As we can see in the candle above, Solana is unable to break its up-side support zone due to a long day of support. If this support zone can be broken, Solana can break its all-time high very quickly.





**My Prediction:-** A break above the resistance should see Solana break below $250 in the next few weeks. If there is no bad news in the market, then Solana will quickly take itself to one of the highs.