Solana Advances as It Rallies to $106

KEY TAKEAWAYS

•    Solana maintains a bullish outlook after breaking above the $85 barrier, with a move toward $127 possible if buyers overcome the current resistance

*     The $100 level remains crucial support, while a break below it could send SOL back toward the previous trading range below $90.

*     The bullish trend is supported by the 21-day SMA moving above the 50-day SMA, although SOL must remain above its moving-average support to sustain the upward move.

Solana (SOL) Price Long-Term Prediction: Bullish

Solana price surpasses its barrier at $85 as it rallies to $106. The positive momentum has reached a high of $106. Presently, the crypto price is stuck at the recent high. Solana will progress to the high of $127 if buyers overcome the current resistance level. In the meantime, Solana is hovering above the $100 support as the altcoin maintains it bullish ascent.

The crypto asset will return to its range below $90 if the bears breach the $100 support. In other words, SOLUSD will continue its sideways move between the $60 and $85 support. Today, Solana is trading at $106.49.

Technical indicators

Major supply zones: $120, $140, $160
Major demand zones: $80, $60, $40

Solana (SOL) Price Indicator Analysis

The 21-day SMA has broken above the 50-day SMA, indicating a bullish trend. The price bars are well above the moving average lines as prices resume an upward trend. On the 4-hour chart, the price bars are close to and above the upward-sloping moving average lines. The crypto price will rise as it holds above the 21-day SMA support on the 4-hour chart. Solana will begin to fall as soon as it loses the 21-day SMA support.

What Is the Next Move for Solana (SOL)?

Solana price regains its bullish ascent as it rallies to $106.The bullish momentum has reached the high of $105.80, but it is fluctuating below the $106 high and above the moving average lines. The price upward move will commence once the current barrier is breached.

The downward move will commence when prices fall below the moving average lines. Meanwhile, the crypto price has retested the 21-day SMA support twice and rebounded.