Solana Rises but Is Unable to Stay above $170

Azeez Mustapha


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Key Highlights
Solana’s price recovers above the moving average lines
The upward correction is stuck at $173
Solana (SOL) Current Statistics
The current price: $168.06
Market Capitalization: $96,873,613,215
Trading Volume: $3,133,754,687
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bullish
The price of Solana (SOL) has retraced above the 21-day SMA but is unable to stay above $170. The cryptocurrency’s price is rising as it approaches and retests the resistance level at $188. The altcoin will fully rebound if it overcomes resistance at $188.

SOL will return to the prior high of $210. However, Solana has surged to a high of $169, where it is confronting another obstacle at $173. If the altcoin falls below the 21-day SMA or $162 support, the market may reach a low of $140. Meanwhile, SOL/USD is failing to break above the $170 resistance level.

Solana Rises but Is Unable to Stay above $170
SOL/USD – Daily Chart

Solana (SOL) Price Indicator Analysis 
Solana’s price bars have retraced above the moving average lines, restarting the uptrend. The altcoin is rising, but it is caught at the resistance level of $170. The price bars on the 4-hour chart are still sandwiched between the moving average lines, suggesting that the price of the cryptocurrency will stay inside a range.

What Is the Next Move for Solana (SOL)?
Solana’s price bar has retraced above the moving average lines but is unable to stay above $170. The altcoin is rising, but it is stuck at the resistance level of $170. On the 4-hour chart, the price bars remain caught between the moving average lines, indicating that the cryptocurrency will continue to move in a range.

Meanwhile, the crypto signal will be range bound as the altcoin is trapped between the moving average lines.

Solana Rises but Is Unable to Stay above $170
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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