Solana Retreats and Halts Above $120

Key Highlights

Solana  rebounds above the $110 support
Solana commences its range below $135

Solana (SOL) Current Statistics

The current price: $130.20
Market Capitalization: $67,199,312,278.85
Trading Volume: $4,133,420,956.03
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bullish

Solana’s (SOL) price has risen above the $100 support as it halts above $120. The 50-day SMA or the resistance at $133 has halted the positive trend. The asset will rise to the next resistance at $150 if it breaks above the 50-day SMA. The positive trend will continue until it reaches the $180 high. The altcoin will be stuck between the moving average lines if buyers are unable to push it above the 50-day SMA.

In other words, the altcoin will trade below $120 support and below the resistance at $135. Solana will fall to the low of $110 if it retraces and breaks below the 21-day SMA support and the $120 low. Meanwhile, Solana remains trapped around the $131.70 peak.

Solana (SOL) Price Indicator Analysis 

The 50-day SMA resistance and the 21-day SMA support have ensnared the upward momentum. After reaching the 50-day SMA barrier, Solana is now retracing. On the 4-hour chart, the price bars are situated above the moving average lines. The resistance at $133 has blocked the altcoin from rising above the moving average lines.

What Is the Next Move for Solana (SOL)?

Solana has recovered from its decline but halts above $120. Solana has returned to a bullish trend, and the bulls have held the $100 support. The altcoin is retreating from the most recent peak, and the upward trend has halted. The altcoin will have to make a range-bound move between $100 and below the resistance at $135 or the moving average lines.

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