Solana Pauses Above $170 and Continues Its Ascent

Key Highlights

The crypto asset is trading at $176
 Solana has resumed a bullish trend

Solana (SOL) Current Statistics

The current price: $179.96
Market Capitalization: $93,274,699,480.47
Trading Volume: $5,453,309,318.54
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bullish

Solana’s (SOL) price rises above the $160 barrier and continues its ascent. However, over the last 48 hours, the bullish momentum has paused at the current high. The cryptocurrency trades in a narrow range above the $170 support and below the $180 high. The crypto asset is trading below its recent high, indicating that the crypto will continue to rise. 

Solana will rise to a peak of $210 if the current barrier is broken. The cryptocurrency will slide above the 21-day SMA support if the current support at $170 is breached. Solana will return to its range above the 21-day SMA support but below the resistance at $160 high. Today, Solana is trading for $176.

Solana (SOL) Price Indicator Analysis 

Solana has begun an upward trend as the moving average lines slope upward. The 21-day SMA is higher than the 50-day SMA, indicating an increase in the cryptocurrency. On the 4-hour chart, long candlestick wicks point to the $180 high. It suggests heavy selling pressure at the recent top.

What Is the Next Move for Solana (SOL)?

Solana price remains above the $170 peak as it continues its ascent On the 4-hour chart, the cryptocurrency price is bouncing above the 21-day SMA support but below the $180 resistance level. The cryptocurrency price has retested the resistance level more than four times in order to break above it. 

If buyers overcome the $180 resistance, the cryptocurrency’s value will rise. Meanwhile, the cryptocurrency signal is positive, with the altcoin trading above the moving average lines.

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