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