Solana Is On The Rise But May Hit The Barrier At $102

Azeez Mustapha


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Key Highlights
Solana regains a bullish trend
Solana approaches the resistance at $102

Solana (SOL) Current Statistics
The current price: $96.76
Market Capitalization: $54,979,634,173
Trading Volume: $1,398,258,403
Major supply zones: $80, $90, $100
Major demand zones: $40, $30, $20

Solana (SOL) Price Long-Term Prediction: Bullish
The price of Solana (SOL) is rising but may hit the barrier at $102. Since the price decline on January 3, 2024, the cryptocurrency has continuously traded above the $85 support level. On January 23, 2024, the bears did breach the $85 support level, but the bulls purchased the dips.

The price broke above the moving average lines, resulting in a new uptrend. Positively, Solana will rebound to its prior high of $120 if buyers win out. But resistance to the rising trend will materialize at the height of $102.In addition, the Doji candlesticks have restricted the price movement.

Solana has risen above the moving average lines in the interim.

Solana Is On The Rise But May Hit The Barrier At $102
SOL/USD – Daily Chart

Solana (SOL) Price Indicator Analysis
The price bars have risen above the moving average lines as a result of the current price recovery. On the 4-hour chart, the downward-sloping moving average lines have shifted northward, indicating an uptrend. It shows that Solana has resumed its bullish trend. Doji candlesticks mark the price activity.

What Is the Next Move for Solana (SOL)?
Solana’s price rises above the low of $78 but may hit the barrier at $102. The crypto signals have predicted a continued upward movement of the coin. In prior price activity, the market reached a high of $126. On the upside, Solana will reach the recent high, breaking the resistance at $126.

However, in recent market activity, increasing moves have met with rejection near the resistance level of $102.

Solana Is On The Rise But May Hit The Barrier At $102
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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