Solana Comes to a Halt as It Reaches a Target Price of $33.92

Key Highlights
Solana reaches bullish exhaustion
Solana fluctuates below the $34 high

Solana (SOL) Current Statistics
The current price: $32.39
Market Capitalization: $18,175,698,416
Trading Volume: $974,556,712
Major supply zones: $60, $70,$80
Major demand zones: $20, $10, $5

Solana (Sol) Price Long-Term Prediction: Bullish
Solana’s (SOL) price is in a positive move as it reaches a target price of $33.92 .The resistance at $24.50 has stopped the rising trend since October 2. On October 19, the bulls broke above the $24.50 resistance level and rallied to a high of $33.92.

The upswing has slowed in the last 24 hours as the market has approached the overbought territory. It seems unlikely that the altcoin will continue to rise. For example, on July 13, Solana reached a high of $32.50 before being repelled.

On September 11, the altcoin fell to a low of $17.50. As of this writing, the SOL/USD exchange rate is $32.32. Should sellers emerge in the overbought area, the altcoin will drop to $24.50, the breakthrough price.

Solana (SOL) Price Indicator Analysis
Solana has risen to an overbought market zone as the price bars remain above the moving average lines. The price bars are likely to be broken if sellers appear in the overbought area of the market. The downturn will continue if the price bars drop below the moving average lines.

Meanwhile, the upward trend has paused because the price bars remain above the moving average lines.

What Is the Next Move for Solana (SOL)?
The increase in Solana reached bullish exhaustion as it reached a target price of $33.92. On the 4-hour chart, the altcoin has retraced and found support above the 21-day moving average line. The slump will resume if the price drops below the moving average lines.

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