Solana Is in a Range as It Challenges the Barrier at $104

Azeez Mustapha


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Key Highlights
Solana tackles the barrier at $104
Solana’s range is likely to persist

Solana (SOL) Current Statistics
The current price: $99.81
Market Capitalization: $56,745,101,996
Trading Volume: $4,406,859,430
Major supply zones: $80, $90, $100
Major demand zones: $40, $30, $20

Solana (SOL) Price Long-Term Prediction: Bullish
Solana (SOL) is still stuck between the moving average lines as it challenges the barrier at $104. The crypto’s price increased and retested both the resistance at $104 and the 21-day SMA. The altcoin has attempted three times to retest the most recent high without success.

On the plus side, the altcoin will resume a positive trend if buyers surpass the current barrier level. The cryptocurrency will break through the barrier and reach a high of $126. Nevertheless, Solana will drop to the current support at $85 or above the 50-day SMA if buyers are unable to overcome the present resistance level.

SOL/USD continues to move in a range and between the moving average lines.

Solana Is in a Range as It Challenges the Barrier at $104
SOL/USD – Daily Chart

Solana (SOL) Price Indicator Analysis
Since January 3, Solana prices have been trapped between the moving average lines. The altcoin will keep varying between it and the moving average until there is a breakout or collapse. The price bars on the 4-hour chart are above the lines representing the moving average, allowing the coin to increase.

However, resistance to the rising trend exists above $104.

What Is the Next Move for Solana (SOL)?
Solana’s price is falling as it challenges the barrier at $104 .The cryptocurrency asset is likely to decrease if it is rejected at its last peak. It’s challenging for buyers to break through the resistance zone. If Solana is rejected at the moving average lines, it will drop and test the present support at $85 again.

Otherwise, the altcoin will continue to oscillate between the lines that indicate the moving average.

Solana Is in a Range as It Challenges the Barrier at $104
SOL/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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