The Solana price prediction may continue to show a bullish movement if the market could rise above the moving averages.
Solana Prediction Statistics Data:
- Solana price now – $35.8
- Solana market cap – $12.43 billion
- Solana circulating supply – 345.5 million
- Solana total supply – 511.6 million
- Solana Coinmarketcap ranking – #9
Resistance levels: $70, $75, $80
Support levels: $10, $5, $3
SOL/USD is showing positive movement since yesterday as the market prepares to cross above the 9-day moving average. Apart from this, the Solana price still has to conquer the 21-day moving average within the channel and traders can expect the price to continue to rise as soon as this is done.
Solana Price Prediction: Solana Price Will Shoot to the North
The daily chart shows that the Solana price is attempting to create a new positive trend, and traders may expect a bullish continuation towards the upper boundary of the channel which could test the resistance level of $40. Similarly, the technical indicator reveals Relative Strength Index (14) remains below 50-level but crossing above this barrier may locate the potential resistance levels at $70, $75, and $80 in the long term.
Furthermore, if the Solana price continues the rising channel pattern, traders may witness additional bullish trends in the coming trading sessions. Meanwhile, a bearish breakdown may likely play out for this market if the Solana price withdraws back below the 9-day moving average, and this could roll the coin back to the long-term supports at $10, $5, and $3.
Against Bitcoin, the Solana price follows the bullish movement as the coin moves to the upside. More so, if the coin crosses above the upper boundary of the channel, the market is likely to keep releasing more bullish pressure as the technical indicator Relative Strength Index (14) moves to cross above the 50-level, which indicates that more bullish signals are going to play out.
In other words, if SOL/BTC falls and stays below the 9-day moving average, it may bring the coin to the nearest support at 1500 SAT, and any further bearish movement could lower the price to the support level of 1200 SAT, and below. Nevertheless, if the coin continues to follow a bullish movement and heads to the upside, traders could see a bull run to the resistance level of 2400 SAT and above.
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Image and article originally from insidebitcoins.com. Read the original article here.