Solana Price Recovers Above $110

The price of Solana (SOL) has risen above the $100 support and broken above the 21-day SMA barrier.

SOL price long-term prediction: bearish

On a positive note, the price of Solana is likely to continue its rise to the high of the 50-day SMA. The altcoin will rise to a high of $150 if it breaks through the 50-day SMA.

However, if it is rejected by the 50-day SMA, SOL will be stuck between the moving average lines.

On the other hand, the altcoin will fall above the $110 support if it falls below and breaks the 21-day SMA support. Solana is worth $129 at the time of this writing.

Analysis of the SOL price indicator

The price of the cryptocurrency has rallied between the moving average lines. The price of SOL is below the 50-day SMA resistance and above the 21-day SMA support. If the altcoin is rejected at the 50-day SMA, it will be forced to move in a range. Solana should rise as the price bars are above the moving average lines. The uptrend meets resistance at the high of $132.

Technical indicators

Key supply zones: $220, $240, $260
Key demand zones: $140, $120, $100

What is the next move for Solana? 

Solana's price is above the $100 support and below the moving average lines. The bulls have consistently supported the $100 support. The value of the cryptocurrency is rising as it approaches the $132 level. The altcoin will have to move within a certain range if it falls from the $132 top.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are 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.