Solana Is Stable above $22 As It Continues Its Upward Move

Key Highlights
Solana challenges the $24 high
Solana risks decline in the overbought region

Solana (SOL) Current Statistics
The current price: $23.37
Market Capitalization: $9,736,804868
Trading Volume: $372,297,249
Major supply zones: $60, $70,$80
Major demand zones: $20, $10, $5

Solana (Sol) Price Long-Term Prediction: Bearish
Solana’s (SOL) price is trading sideways as it continues its upward move. In other words, the crypto asset has maintained its bullish position while in the positive trend zone. The altcoin reached a high of $24.89 on October 16 but failed to maintain the positive trend.

As a result, the crypto is retracing back to the moving average lines. In addition, the recent high was retested on October 1 and the coin was resisted. SOL/USD fell below the moving average lines. Today, the altcoin is recouping to retest the resistance level, which is an overbought market zone.

On the plus side, if buyers succeed, the altcoin will reach a high of $30.

Solana (SOL) Price Indicator Analysis
Solana’s positive momentum has been sustained as the price bars remained above the moving average lines. Moving average lines are sliding northward, while price bars are still above the 21-day SMA. Solana has experienced a bullish crossover since October 4.

The current upsurge will halt if the bears breach below the 21-day SMA.

What Is the Next Move for Solana (SOL)?
Solana is above the moving average lines as it continues its upward move. On the plus side, if the 21-day Support holds, SOL will trade between $22 and $24. In other words, Solana will remain above the moving average lines till a bullish trend is established.

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