Solana Risks Decline as It Hovers Above $140

Key Highlights

Solana continues to hold above $140
The crypto asset may continue its range-bound move

Solana (SOL) Current Statistics

The current price:  $145.16
Market Capitalization: $76,653,857,758.8
Trading Volume: $3,600,430,284.47
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bearish

Solana’s (SOL) price hovers above the critical support level of $140. On every drop below the crucial support, the bulls will buy the dips. The crypto asset is presently range-bound, sitting above the $140 support and below the $185 resistance. The value of the coin will rise if the current support holds. The altcoin will reach a high of $185 if it breaks above the moving average.

Solana would fall and retrace its previous lows of $120 and $110 if it lost its critical support above $140. The altcoin is currently rising as it approaches its peak of $147.

Solana (SOL) Price Indicator Analysis 

The price bars have been below the moving average lines since June 5, indicating that the cryptocurrency will continue to fall. Long candlesticks are pointing toward the crucial support level of $140. It suggests that there is significant buying pressure at lower price points. Doji candlesticks, which are used to describe price activity, kept the price steady.

What Is the Next Move for Solana (SOL)?

The price of Solana is rising but it hovers above the $140 critical support. The altcoin is moving back toward its prior range, which was between the resistance at $185 and the support at $140. The altcoin is currently trading below the moving average lines and above the $140 support. The bullish trend will begin when buyers push the price above the moving average lines. The altcoin will continue to trade in a range-bound manner if the moving average lines continue to be rejected.

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