Solana Is on the Rise as It Targets the $259 High

Azeez Mustapha


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Key Highlights
Solana targets the $259 high
The crypto asset resumes its bullish ascent

Solana (SOL) Current Statistics
The current price: $181.78
Market Capitalization: $104,050,862,790
Trading Volume: $2,309,432,027
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bullish
Solana’s (SOL) price has continued its upward trend as it targets the $259 high. On March 18, the cryptocurrency price struck resistance around $210 and fell quickly to a low of $160. Solana has been trading above the moving average lines for the past week but below the $210 barrier level.

On the upside, the current uptrend will begin if the altcoin remains above the 21-day SMA. If Solana breaks above the $210 barrier level, it will rally above the $259 overhead resistance. The altcoin would completely recover from its decline and enter the bull market.

The altcoin will be forced to trade sideways above the moving average lines and resistance at $210 if buyers are not successful.

Solana Is on the Rise as It Targets the $259 High
SOL/USD – Daily Chart

Solana (SOL) Price Indicator Analysis
The price bars have retraced above the 21-day SMA following the latest drop. Solana will rise while remaining above the moving average lines. The price movement has been defined by Doji candlesticks, which aim to slow it down. On the 4-hour chart, the price bars are below the moving average lines, indicating a decline.

What Is the Next Move for Solana (SOL)?
Solana’s price bars are above the moving average lines as it targets the $259 high. The bulls had already halted the slide above the moving average lines. Today, the cryptocurrency’s price is growing, approaching the previous high of $210.

The daily chart shows that the price bars are above the moving average lines, indicating a positive crypto signal.

Solana Is on the Rise as It Targets the $259 High
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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