Solana Slumps above $107 and May Drop Even Lower to All-Time Lows

Key Highlights
Solana backtracks above the $106
Solana risks further decline

Solana (SOL) Current Statistics
The current price: $107.03
Market Capitalization: $60,955,059,868
Trading Volume: $2,592,372,613
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20

Solana (SOL) Price Long-Term Prediction: Bullish
Solana’s (SOL) price is trading above the moving average lines and the $106 support level and may drop even lower to all-time lows. The current bullish momentum was broken at the $118 high, resulting in the crypto’s drop.

If the cryptocurrency price remains above the moving average lines, Solana will resume its ascent. The coin will rise to its prior high of $126. On the upside, the price indicator predicts that the cryptocurrency will rally to the 2.0 Fibonacci extension high or level of $135.34.

The altcoin has moved above the moving average lines based on price activity. The altcoin may see a decline if the price drops below the moving average horizontal lines. The altcoin could fall above the 50-day SMA or above the $98 support.

Solana (SOL) Price Indicator Analysis
Solana’s price bars have remained above the moving average lines. The altcoin has retraced above the moving average lines and is seeking to breach below them. The current rally will cease if the price falls below the moving average lines.

What Is the Next Move for Solana (SOL)?
On the 4-hour chart, Solana has slipped below the moving average lines and may drop even lower to all-time lows. The altcoin’s price could fall even lower to $98 or $94 levels. Currently, the crypto signal is negative, as Solana may fall further to historical lows.

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