Solana Rebounds as It Attempts to Jump the $220 Hurdle

Key Highlights

Solana  regains a bullish trend
The crypto price breaches the barrier at $200

Solana (SOL) Current Statistics

The current price: $206.34
Market Capitalization: $99,663,821,447.96
Trading Volume: $3,661,989,673.02
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bearish

Solana’s (SOL) price has recovered positive momentum as it attempts to jump the $220 hurdle. It is anticipated that the present bullish momentum will reach the 50-day SMA high. When buyers push the price above the 50-day SMA, Solana will rise to the highs of $240 and $260. However, when the 50-day SMA rejects the bullish momentum, Solana will be compelled to a range-bound move.

The cryptocurrency price is above the 21-day SMA support, and if the price falls below the 21-day SMA support, Solana will return to its previous range. A rejection at the 50-day SMA will cause Solana to be trapped between the moving average lines. Solana has increased to a peak of $206 at the time of writing.

Solana (SOL) Price Indicator Analysis 

Solana’s price is rising since it is above the 21-day SMA but lower than the 50-day SMA. The price bars on the 4-hour chart are once again above the lines of the moving average. The altcoin will increase, but it will encounter opposition at $220. The sideways trend is indicated by the horizontal moving average lines.

What Is the Next Move for Solana (SOL)?

Solana breaks the initial barrier at $200 as it attempts to jump the $220 hurdle. Buyers have had the upper hand since they broke the top price range and ended the sideways trend that had been going on for two weeks. The crypto signal is good because the bulls went through the $200 barrier. However, the altcoin is a positive trend as it reaches the $220 high.

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