Solana Oscillates but Remains Stable above the $95 Support

Azeez Mustapha


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Key Highlights
Solana holds above the $95 support
Solana has resumed a sideways move

Solana (SOL) Current Statistics
The current price: $96.49
Market Capitalization: $54,891,727,905
Trading Volume: $1,532,342,121
Major supply zones: $80, $90, $100
Major demand zones: $40, $30, $20

Solana (SOL) Price Long-Term Prediction: Bearish
Solana’s (SOL) price has fallen and remained between the moving average lines but remains stable above $95 support. For the past 48 hours, the cryptocurrency has been caught between two moving average lines.

Today, the bears are attempting to renew selling pressure by retesting the 21-day SMA. If the bears breach the 21-day SMA, the altcoin will resume selling pressure and return to its current support level of $85.00.

On the upside, Solana’s bullish ascent will resume if it rebounds above the present support level of $95. Consequently, the altcoin will recover its bullish momentum and overcome its present limitation. The positive momentum will continue till the previous high of $107.

Solana Oscillates but Remains Stable above $95 Support
SOL/USD – Daily Chart

Solana (SOL) Price Indicator Analysis
Solana has been oscillating for the past three days, with price bars between the moving average lines. When the moving averages are breached, the altcoin will trend. On the 4-hour chart, the horizontal sloping moving average lines are above the price bars, indicating a potential decline.

What Is the Next Move for Solana (SOL)?
The current restriction on Solana has kept prices to remain stable above $95 support. In addition, Doji candlesticks have limited price movement. The crypto signals have been range-bound for the past three days due to the altcoin’s proximity to the moving average lines.

Furthermore, traders’ lack of interest in the market’s direction has caused altcoin to remain range-bound.

Solana Oscillates but Remains Stable above $95 Support
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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