KEY TAKEAWAYS
• Solana surpasses the $85 threshold
• The cryptocurrency risks returning to its range between the $60 support and the $85 high,where buyers will fail to continue positive momentum.
• Solana advances toward the $100 target
Solana (SOL) Price Long-Term Prediction: Ranging
Solana price rebounds and rises as it hits its current peak at $90. Since June 6, the cryptocurrency asset has been trading above the $60 support but below the $85 resistance level. Following the recent bounce, Solana has resumed its positive advance although trading below the $90 high. On the upside, if buyers break the $90 barrier, the cryptocurrency will rise to its next high of $100.
However, if the cryptocurrency fails to surpass the $90 high, Solana will be forced to trade sideways, above the moving average lines but below the current high. During the prior price movements, Solana reached the high of $84 and plunged below the moving average lines. In the meantime, Solana is worth $86.33 at the time of writing.
Technical indicators
Major demand zones: $80, $60, $40
Solana (SOL) Price Indicator Analysis
Solana prices have risen above the 21-day and 50-day moving averages, signaling a rising trend. There are long candlestick wicks crossing the $85 level, indicating significant selling pressure near the recent high. The 4-hour chart shows the 21¬day SMA above the 50-day SMA, indicating an upward trend.
What Is the Next Move for Solana (SOL)?
Solana price resumes its upward advance as it hits its current peak at $90. The cryptocurrency asset had previously been in a sideways trend between the $60 support and the $85 high. Today, the cryptocurrency cleared the $85 barrier, but the upward movement has paused at $90.
On the plus side, Solana’s next move is to breach the next barrier at $100. Otherwise, it will slide and continue its range within the confined range.
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