The Solana price prediction may continue to show bullish movement if the market can break above the $60 resistance level.
Statistical data of Solana (SOL):
- Solana price now – $45
- Solana Market Cap – $15.6 billion
- Solana Circulating Supply – 346 million
- Total Solana supply – 511.6 million
- Solana Coinmarketcap Ranking – #9
Resistance levels: $70, $75, $80
Support Levels: $25, $20, $15
SOL/USD shows positive movement as the market remains above the 9-day and 21-day moving averages. Other than that, the price of Solana has yet to break through the upper boundary of the channel and traders can expect the price to continue higher as soon as that is done.
Solana Price Prediction: Solana Price Will Pull North
The daily chart shows that the Solana Award attempts to create a new positive trend, and traders can expect a bullish continuation above the upper boundary of the channel that could test the $50 resistance level. Similarly, the technical indicator reveals that the relative strength index (14) is breaking through the 60 level, which could place potential resistance levels at $70, $75 and $80 in the long term.
Additionally, if Solana’s price maintains the channel pattern to the upside, traders could see additional uptrends in future trading sessions. Meanwhile, a bearish breakdown could likely occur in this market if Solana’s price breaks back below the moving averages, which could bring the coin back to the long-term supports at $25, $20, and $15.
Against Bitcoin, Solana price follows the bullish move as the coin moves higher. More so, if the pair touches the resistance level of 2000 SAT, the market is likely to continue releasing more upside pressure as the technical indicator Relative Strength Index (14) crosses above the 60 level, indicating that more bullish signals are going to play out.
In other words, if SOL/BTC breaks down and stays below the 9-day and 21-day moving averages, it may take the coin to the nearest support at 1500 SAT, and any further bearish moves could drive the price down to the support level of 1400 SAT and below. Nonetheless, if the coin continues to trend upwards and breaks through the upper boundary of the channel, traders could see a bull run at the resistance level of 2500 SAT and above.
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