Solana Recoups as It Revisits Its $112 Low

Key Highlights

Solana  has fallen above the $110 support
The market has reached the bottom price level

Solana (SOL) Current Statistics

The current price: $122.70
Market Capitalization: $62,514,631,388.04
Trading Volume: $3,042,192,065.8
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bearish

The price of Solana (SOL) has fallen to the predicted price of $117 as it revisits its $112 low. Solana’s price trend indicates that it is reversing upward after hitting a low of $112. The cryptocurrency is below the moving average lines but above the $110 support. The presence of Doji candlesticks has hindered the upward correction. However, the bullish trend will resume after buyers break the 21-day SMA barrier.

The 50-day SMA’s high will be reached by the bullish momentum. If Solana breaks above the moving average lines, it will hit $220. In contrast, there is a chance that the cryptocurrency may continue to decrease if Solana turns down from the 21-day SMA. The value of the cryptocurrency will drop to as low as $80. Solana is worth $125 as of this writing.

Solana (SOL) Price Indicator Analysis 

The downward trend has lessened above the $110 support level.The moving average lines are above the price bars. The 21-day SMA represents the price bars’ resistance. The price bars on the 4-hour chart are situated between the lines of the moving average. Solana may keep dropping as the bears retest the 21-day SMA support.

What Is the Next Move for Solana (SOL)?

Solana has stopped after plunging to $112 on March 11 as it revisits its $112 low. The crypto is below the moving average lines but above the $110 support. The 21-day SMA has repelled the upward momentum as Solana declines. SOL will revisit the current support at $112. The crypto signal will be range-bound if the current support holds.

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