Solana Rebounds as It Revisits its Prior High of $68

Key Highlights
The crypto asset rebounds and commences its range
Solana will revisit the high of $68

Solana (SOL) Current Statistics
The current price: $54.49
Market Capitalization: $31,052,473,602
Trading Volume: $1,235,753,496
Major supply zones: $60, $70, $80
Major demand zones: $20, $10, $5

Solana (SOL) Price Long-Term Prediction: Bullish
Solana (SOL) has been trading in a sideways pattern as it revisits its prior high of $68. The altcoin has been trading between $51 and $68 during the last week. Today, SOL is in decline, having reached a low of $53. Nonetheless, sellers are attempting to breach below the 21-day simple moving average.

If the bearish trend continues, the altcoin may fall even more. SOL/USD will fall further to a low above the $41 support or the 50-day SMA. However, the cryptocurrency asset will continue to trade in the $51–$68 region if it stays above the 21-day SMA.

Solana (SOL) Price Indicator Analysis
The bearish candlestick has retraced and is now above the 21-day simple moving average. This is likely to keep the altcoin from falling further. The price bars on the 4-hour chart are below the moving average lines but rise after reaching the lower price zone.

What Is the Next Move for Solana (SOL)?
Solana is expected to continue its sideways trend as it revisits its prior high of $68. If the bulls break above the $68 resistance, the upswing will resume. The existence of Doji candlesticks has currently delayed the price movement.

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