Solana Is in an Uptrend as It Challenges the Resistance at $22

Key Highlights
Solana is in a range-bound move
SOL/USD reaches an overbought region

Solana ( SOL) Current Statistics
The current price: $21.09
Market Capitalization: $11,375,826,580
Trading Volume: $460,015,017
Major supply zones: $60, $80,$100
Major demand zones: $50, $30, $10

Solana (Sol) Price Price Long-Term Prediction: Bearish
Solana’s (SOL) price has reversed its negative trend as it challenges the resistance at $22. Buyers are pushing the coin to recapture its previous highs of $24 and $26. On March 20, the bullish momentum was rejected at a high of $24 but fell to a low of $19. At the time of writing, the altcoin is currently trading at $21.09. On the upside, it will be difficult for buyers to surpass the previous high. Between the moving average lines, Solana is entrapped. If the price of Solana rises above the $24 resistance level and the 50-day SMA, the positive trend will resume. The bullish trend will continue up to the $26 high. But, if the altcoin stays pinned within the moving average lines, the bullish scenario will be invalidated.

Solana (Sol) Price Indicator Analysis
On the Relative Strength Index, the altcoin is at level 50. It demonstrates that the price of the altcoin has reached its equilibrium level. This indicates that the forces of supply and demand are now equal. The currency may resume its recent phase of range-bound movement because the price bars are currently positioned between the moving average lines. Bearish momentum is present in Solana below the daily Stochastic barrier of 80.


What Is the Next Move for Solana (SOL)?
Solana is caught between the moving average lines as it challenges the resistance at $22. Solana will probably move in a range for a few days. The altcoin will trend when the moving average line crosses its line.

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