Solana Retreats as It Poises to Restart Its Upward Trend

Key Highlights
Solana resumes selling pressure
Solana risks decline to $175 low

Solana (SOL) Current Statistics
The current price: $185.74
Market Capitalization: $106,265,582,742
Trading Volume: $11,894,466,670
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bullish
Solana (SOL) prices are retreating from their prior high of $210 as it poises to restart its upward trend. The altcoin has been increasing as it approaches the overhead barrier of $259. Buyers hope to push the coin back to its prior high, but they will encounter an early resistance zone near $220.

The altcoin has dropped to a low of $180. The upward trend will resume if the existing support holds. Solana prices will rise to  prior highs of $220 and $259. However, if the altcoin loses present support, it will fall to a low above the 21-day SMA, or $152 low. SOL/USD is now at $184.25 at the time of writing.

Solana (SOL) Price Indicator Analysis
On the 4-hour chart, Solana has retraced above the moving average lines. The altcoin is maintaining above the $180 level as it resumes its bullish trend. On the daily chart, the altcoin is positioned for a possible upward advance because the price bars stay above the moving average lines.

What Is the Next Move for Solana (SOL)?
Solana is poised to restart its upward trend as it restarts its upward trend. The bulls are seeking to hold the decline above the current support level of $180. On March 16, the altcoin broke above the $178 support level and began a rising trend.

The altcoin reached its previous high of $210. Today’s crypto signal will be bullish, with the altcoin trading above the moving average lines.

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