Solana Returns to its Prior Peak of $180

Key Highlights

Solana’s price has rallied to a high of $168
Solana pauses above $160

Solana (SOL) Current Statistics

The current price: $162.70
Market Capitalization: $87,219,116,346.69
Trading Volume: $5,832,031,329.71
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bullish

The price of Solana (SOL) surpasses the moving average as it returns to its prior peak of $180. The altcoin reached a high of $168 before retracing below $165. The price indicator predicts that Solana will reach a record high of $180. A retraced candle body tested the 61.8% Fibonacci retracement line during the upswing that began on June 30.

The retracement suggests that Solana will ascend to the 1.618 Fibonacci extension or the $180 high. The altcoin has retraced above the $159 support and is now fluctuating below the $166 peak. The cryptocurrency is projected to resume its upward trajectory above the $168 high.

Solana (SOL) Price Indicator Analysis

Solana’s price has risen above its horizontal moving average lines. The cryptocurrency has recovered, breaking above the moving average lines. On the 4-hour chart, the moving average lines are sloping upward, indicating that there is now an uptrend. The extended candlestick wicks signal heavy selling pressure on July 11.

What Is the Next Move for Solana (SOL)?

Solana prices continue their positive trajectory as they return to their prior peak of $180. The surge halted at a high of $168, but the altcoin has continued a sideways move above $160 but below $166. The upward trend will resume when the price surpasses the barrier level of $168. The altcoin is currently trading above the 21-day SMA support, or $160 low.

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