Solana Keeps on Its Upward Push Above $200

Key Highlights

Solana reaches a high of $205
The crypto asset reaches the overbought region

Solana (SOL) Current Statistics

The current price: $199.75
Market Capitalization: $94,193,960,329.01
Trading Volume: $6,006,170,568.15
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Ranging

Solana (SOL) has begun a rising trend on its upward push above $200. Today, the bullish momentum has hit a peak of $205. Solana had already achieved a high of $210 in March but was rebuffed. Buyers were unable to maintain the upward momentum as the cryptocurrency entered an overbought sector of the market. Since the rejection at the $210 high, the altcoin has traded in a sideways pattern.

Today, Solana rose to a high of $205 but fell again. On the upside, the positive momentum may continue if buyers break through the resistance near $210. However, a rejection will lead the cryptocurrency to drop and begin its range-bound movement.

Solana (SOL) Price Indicator Analysis 

Solana was initially caught between the moving average lines before rebounding. The breaking of the 21-day SMA has driven Solana to new highs, surpassing resistance levels of $160 and $180 in price. The moving average lines are rising upwards in tandem with the price recovery. The crypto asset’s support line is the 21-day simple moving average.

What Is the Next Move for Solana (SOL)?

On the 4-hour chart, Solana is in a steady advance on its upward push above $200. The market hit a high of $205. The current high represents the market’s overbought region. The current uptrend is likely to be rejected near the $210 high. The recent peak has not been surpassed since March 2024. Meanwhile, the crypto signal is optimistic as the altcoin continues its upward trend.

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