The Solana price prediction may continue to show bullish movement if the market can break above the $42 resistance level.
Statistical data of Solana (SOL):
- Solana price now – $41
- Solana Market Cap – $14.1 billion
- Solana Circulating Supply – 345.8 billion
- Total Solana supply – 511.6 billion
- Solana Coinmarketcap Ranking – #9
Resistance levels: $75, $80, $85
Support Levels: $10, $8, $6
SOL/USD shows positive movement as the market remains above the 9-day and 21-day moving averages. Other than that, Solana price has yet to create further bullish moves above the $45 resistance level within the channel and traders can expect the price to continue higher as soon as that is. do.
Solana Price Prediction: Solana Price Will Pull North
The daily chart shows that the Solana Award tries to create a new positive trend, and traders can expect an upside continuation towards the upper boundary of the channel which could test the resistance level of $50. Similarly, the technical indicator reveals that the relative strength index (14) remains above the 50 level, any further bullish moves above the upper boundary of the channel may locate potential resistance levels at $75, $80 and $85 long term.
Additionally, if Solana’s price begins the upward channel pattern, traders could see additional uptrends over the next few trading sessions. Meanwhile, a bearish breakdown could likely occur in this market if Solana’s price breaks back below the moving averages, which could take the coin back to the long-term supports at $10, $8, and $6.
Against Bitcoin, Solana price follows the sideways move as the coin prepares for an upward move. However, if the coin touches the resistance level of 2000 SAT, the market is likely to continue releasing further upside pressure as the technical indicator Relative Strength Index (14) remains above the 50 level indicating that more bullish signals are likely to play. out.
In other words, if SOL/BTC breaks down and stays below the 9-day moving average, it can take the coin to the nearest support at 1500 SAT, and any further bearish moves could push the price down to the level of 1200 SAT support, and below. Nonetheless, if the coin continues to trend upwards and faces the upper boundary of the channel, traders could see a bull run at the resistance level of 2500 SAT and above.