Key Highlights
Solana battles the initial barrier at $160
Solana is expected to reach the high of $190
Solana (SOL) Current Statistics
The current price: $159.65
Market Capitalization:$92,880,061,988
Trading Volume: $5,309,928,887
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60
Solana (SOL) Price Long-Term Prediction: Ranging
Solana (SOL) price is correcting upward as it revisits the $190 resistance. The sideways trend has been running since the uptrend ended on March 19. The cryptocurrency surged to a high of $210 before being repulsed. Solana now trades between $128 and $190.
On the downside, the altcoin fell to a low of $109 before pulling back. The cryptocurrency’s price has risen and crossed above the 50-day SMA. The bullish momentum is halted around the $160 resistance level. If the 50-day SMA holds, the price could rise above the moving average lines. The positive momentum will continue till the previous high of $190.
In the meantime, the altcoin is currently valued at $155 at the of writing.
Solana (SOL) Price Indicator Analysis
Solana’s price bar has risen above the 50-day SMA following the latest price breakout. The upward trend is stopped by resistance at $160.However, the cryptocurrency’s price trades between the moving average lines. On the 4-hour chart, the price bars are above the moving average lines, indicating that the crypto asset is moving upward.
What Is the Next Move for Solana (SOL)?
Solana’s price has recovered positive momentum as it revisits the $190 resistance. The altcoin is challenging its initial barrier at $160. It is anticipated to hit its previous high of $190. When the price breaks above the $190 barrier level, the upside trend will restart. The crypto signal is favorable, as the altcoin regains its bullish trend.
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