Solana Maintains Its Bullish Ascent Above $146

Key Highlights

The altcoin faces selling pressure at $156
Solana resumes bullish ascent

Solana (SOL) Current Statistics

The current price: $146.97
Market Capitalization: $76,124,251,584.33
Trading Volume: $1,563,711,016.58
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bullish

Solana (SOL) maintains its bullish ascent above $146 by breaking through and staying above the moving average lines. The cryptocurrency asset is above the moving average lines but below the $160 barrier. Solana would have risen to a peak of $180 if the $160 barrier had been breached. The upward trend has now stopped around $156, causing the altcoin to begin moving horizontally.

At the moment, the cryptocurrency is declining toward the 21-day SMA support. On the downside, if the altcoin falls below the moving average lines, the cryptocurrency asset will decline above $120. The altcoin is hovering above the $146 low or the 21-day SMA support.  

Solana (SOL) Price Indicator Analysis 

The 21-day SMA is above the 50-day SMA, indicating an upward trend in the cryptocurrency price. The price bars on the 4-hour chart slope above and below the horizontal moving average lines. This shows the sideways trend that is currently in place. Doji candlesticks are used to describe Solana price bars.

What Is the Next Move for Solana (SOL)?

On the 4-chart, Solana trades between $140 and $156 and maintains its bullish ascent above $146. When the current range-bound levels are broken, Solana will trend. On the daily chart, the altcoin is presently in the bullish trend zone although in a sideways trend. When the price drops below the moving average lines, Solana will start to sell again.

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