Coinidol.com: Solana Holds Firmly Above $80

Solana (SOL) prices have continued to rise despite a period of sideways movement.

SOL price long-term prediction: bullish

Previously, the altcoin was confined between the $75 support and the $90 resistance. After breaking through the $90 resistance, the bulls are now attempting to overcome the 50-day SMA barrier. If buyers succeed in pushing the price above the 50-day SMA, Solana could rise to a high of $130. However, if it falls below the 50-day SMA, the altcoin is likely to return to its range above the $75 support.

Currently, bullish momentum has reversed at the recent high, and Solana is expected to continue its range-bound movement for a few more days. SOL is now trading at $88.76.

Technical indicators

• Key supply zones: $220, $240, $260

• Key demand zones: $140, $120, $100

Solana price indicator

Since March 9, the cryptocurrency has been trading between the 21-day SMA support and the 50-day SMA barrier. Long candlestick wicks appear around the $90 barrier, indicating significant selling pressure at the recent high. The 21-day and 50-day SMAs are moving horizontally on the 4-hour chart, signalling a lateral trend.

What is the next move for Solana?

Solana remains in a sideways pattern, fluctuating above the $80 support and below the $95 resistance. On the 4-hour chart, the SOL price is above the moving average lines but below the $95 barrier. The altcoin has declined and is now just above the $80 support. The price has remained steady due to the formation of Doji candlesticks.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.