Solana Recoups as It Returns to Its Previous High of $126

Azeez Mustapha


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Key Highlights
Solana rallies to the $130 resistance zone
Solana resumes bullish ascent above $100

Solana (SOL) Current Statistics
The current price: $110.28
Market Capitalization: $62,203,488,236
Trading Volume: $6,065,482,063
Major supply zones: $80, $90, $100
Major demand zones: $40, $30, $20

Solana (SOL) Price Long-Term Prediction: Bullish
Solana’s (SOL) price exceeds the projected price threshold of $96 as it returns to its previous high of $126. The cryptocurrency hit a high of $126 before reverting to the south. The retracement has stopped above $100.

On the plus side, if the positive trend continues and the market breaks above the $130 resistance level, it will achieve a new high of $160. Solana, on the other hand, will be heavily overbought. The coin will be harshly rejected at its peak.

However, if buyers fail to get above the $130 high, a sideways trend will begin. The price of the altcoin will range between $100 and $130. Meanwhile, at the time of writing, SOL/USD is trading at $108.88.

Solana Recoups as It Returns to Its Previous High of $126
SOL/USD – Daily Chart

Solana (SOL) Price Indicator Analysis
Solana is in a small retracement above the moving average lines, indicating that the cryptocurrency will continue to rise. The price bars on the 4-hour chart retrace are between the moving average lines. This shows price movement between the moving average lines.

When the moving average lines are broken, the altcoin will trend.

What Is the Next Move for Solana (SOL)?
Solana is hovering above the $100 level as it returns to its previous high of $126. For the previous 48 hours, the current support has been held. The cryptocurrency is currently trading between $102 and $130. Buyers are driving the altcoin back to its earlier high of $126.

Solana Recoups as It Returns to Its Previous High of $126
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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