Solana Recovers but Battles the $180 Barrier

Key Highlights

Solana maintains its ascent above the moving average lines
Solana is stuck at the $170 barrier

Solana (SOL) Current Statistics

The current price: $169.70
Market Capitalization: $88,235,632,137.56
Trading Volume: $4,294,670,461.66
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bullish

Solana (SOL) trades above its 21-day SMA but battles the $180 barrier.The upward move failed above the $180 barrier because buyers were unable to sustain the bullish momentum to reach the previous high.The crypto asset moves above the 21-day SMA support but below the $180 high. The bears have twice attempted to drag the price below the 21-day SMA. 

If the bears succeed, Solana will drop below the 50-day SMA support. A break of the 50-day SMA will cause the altcoin to fall as low as $120. The price of Solana is currently trading at $168.20 and rising above the 21-day SMA support. If buyers push the price above the $180 barrier, the altcoin will rise to a high of $210 and $240.

Solana (SOL) Price Indicator Analysis 

On May 19, there was an extended candlestick tail piercing below the 21-day SMA support. The extended candlestick tail is significant buying pressure above the 21-day SMA support. The upward-sloping moving average lines are still above the price bars. If the cryptocurrency asset stays above the moving average lines, it will increase.

What Is the Next Move for Solana (SOL)?

The altcoin is stuck between the moving average lines but battles the $180 barrier. On May 20, the rising trend was unable to overcome the 50-day SMA barrier, so it stayed stuck between the lines. Today, it is rising again to retest or break the 50-day SMA barrier. The price of Solana will continue to rise within the bullish trend zone.

Make money without lifting your fingers: Start using a world-class auto trading solution.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product, or event. We are not responsible for your investment