Solana Returns to Its Range-Bound Move as It Hovers above $126

Key Highlights

Solana slumps and revisits the $127 low
The crypto asset resumes its range-bound move

Solana (SOL) Current Statistics

The current price: $133.80
Market Capitalization: $78,093,243,660
Trading Volume: $1,751,896,657
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Ranging

Solana’s (SOL) price has fallen below the moving average lines as it hovers above $126. In prior market activity, the altcoin traded above the $126 support and the $190 overhead resistance. On September 2, the cryptocurrency price retested the present support and rebounded. If the current support holds, Solana will return to its range-bound trend.

A breach above the moving average lines will propel the altcoin to its previous high of $190. However, the price movement will be limited above the $126 support and below the moving average lines if buyers fail to maintain the price above it. Solana is now valued at $134.

Solana (SOL) Price Indicator Analysis 

Solana is in a range-bound trend, with price bars returning below the moving average lines. The altcoin has returned to the lower price range and continued its upward trend. The price bars are below the moving average lines but remain above the current support of $126. The moving average lines are horizontal, with a bearish crossover.

What Is the Next Move for Solana (SOL)?

Solana has returned to its lower price range as it hovers above $126. On the 4-hour chart, the cryptocurrency price surged above the 21-day moving average but was halted at the $137 high. The altcoin’s rising trend will restart if it rises and stays above the 21-day SMA support. Meanwhile, the cryptocurrency’s signal remains range-bound as it approaches the lower price range.

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