Solana Rises as It Consistently Retests the Resistance at $84

Azeez Mustapha


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Key Highlights
Solana rallies to the high of $84
The altcoin reaches the overbought region

Solana (SOL) Current Statistics
The current price: $84.74
Market Capitalization: $47,418,334,456
Trading Volume: $4,158,875,148
Major supply zones: $80, $90, $100
Major demand zones: $40, $30, $20

Solana (SOL) Price Long-Term Prediction: Bullish
The price of Solana (SOL) has continued to rise as it consistently retests the resistance at $84. On December 20, the altcoin achieved a high of $84 but found it tough to penetrate at that price. If the current resistance is broken, the cryptocurrency asset will increase to a high of $100.

The price indicator now suggests that SOL/USD will rise to either the level 1.618 or $96.05.05 Fibonacci extensions. Buyers are still having difficulty maintaining the price above the resistance in the interim. If purchasers are unable to break through the current high, the altcoin will revert to its price range of $80 to $84 per coin.

Solana Rises as It Consistently Retests the Resistance at $84
SOL/USD – Daily Chart

Solana (SOL) Price Indicator Analysis
Solana continues to rise as the moving average lines continue thier upward move. The blue line, the 21-day SMA moving average, supports the price bars. The crypto asset is trading in the market’s overbought zone. If sellers appear in the overbought region, the altcoin will fall.

What Is the Next Move for Solana (SOL)?
Solana remains on a bullish trend zone as it consistently retests the resistance at $84. Buyers have retested the resistance level twice in the last 48 hours but have failed to break through it. The altcoin is now trading between $80 and $84 per coin.

At the time of writing, SOL/USD is trading at $83.34.

Solana Rises as It Consistently Retests the Resistance at $84
SOL/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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