Solana (SOL) prices have recovered and reached forecast levels.
Solana Price Long-Term Prediction: Bull
The cryptocurrency rose to a high of $184 before retreating. Solana has reached an overhead resistance level. The expanded candlestick wick shows great selling pressure with overhead resistance. If the Bulls break through the $180 resistance level, Altcoin could rise to a $220 high.
However, it appears unlikely that the coin will move even more upward. On the downside, Solana faces a threat of decline at just under $184.
Currently, Altcoin is below its recent high. Solana is worth $179 at the time of writing.
Solana price indicator analysis
The Solana Price gathered in the upper resistance zone. The horizontal moving average line is tilted upwards with a 21-day SMA crossing beyond the 50-day SMA. Altcoin has reached an over-zone of the market. Solana prices fall when sellers appear in overbuying markets.
Technical indicators
Key Supply Zones: $220, $240, $260
key Demand Zone: $140, $120, $100
What will Solana move next?
The price of the Solana started to move sideways under the overhead resistance zone. Altcoin is trading above the 21-day SMA support level, but below the $184 level. The resistance zone has an extended candlestick core, indicating that the seller is present. There is also a long candlestick tail that crosses 21 days of SMA support.
As Coinidol.com wrote, on July 16, Solana prices resumed their upward trend after falling to a low of $157.
Disclaimer. This analysis and prediction is the author’s personal opinion. They do not recommend buying and selling cryptocurrencies and should not be considered as approval by coinidol.com. Readers should do research before investing in funds.
