Solana Retraces Its Steps to Its Prior High but Battles the $24 High

Key Highlights
Solana faces initial resistance at $24
SOL/USD continues its range-bound move between $20 and $26

Solana ( SOL) Current Statistics
The current price: $23.67
Market Capitalization: $12,764,651,868
Trading Volume: $368,503,071
Major supply zones: $60, $80,$100
Major demand zones: $50, $30, $10

Solana (Sol) Price Price Long-Term Prediction: Bullish
Solana’s (SOL) price has broken above the moving average lines as it battles the $24 high. The crypto asset has regained bullish momentum and is currently retracing its steps in the direction of the above barrier. Solana is now being sold for $23.25, as of the time of writing. The price bars are above the moving average lines, which suggests that the price of the cryptocurrency will probably rise. On the upside, the altcoin will resume its bullish trend if the price of the cryptocurrency breaks through the overhead resistance. We forecast an increase to a peak of $38. Nevertheless, the sideways movement will continue between $20 and $26 if the altcoin is rejected at the recent high. In the interim, SOL/USD is increasing to resume its prior existence.

Solana (Sol) Price Indicator Analysis
Solana is increasing and is at level 55 for period 14 of the Relative Strength Index. Since the price bars are currently above the moving average lines, further upward movement is more likely. Trading in the overbought area of the market is Solana. It is above the daily Stochastic level of 80.

What Is the Next Move for Solana (SOL)?
Solana is moving upward as it battles the $24 high. There might be some initial resistance to the upward advance at $24.The altcoin will retest its previous highs if the current resistance is breached. The cryptocurrency asset will drop below the moving average line if the most recent high is rejected.

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