Solana (SOL) Is Confined in a Range but Targets Level $102.00


Solana is confined in a range
SOL/USD targets the high of $102

Solana (SOL) Current Statistics
The current price: $91.89
Market Capitalization: $47,010,679,298
Trading Volume: $1,835,686,011
Major supply zones: $280, $300, $320
Major demand zones: $160, $140, $120

Solana (SOL) Price Analysis March 21, 2022
Solana’s (SOL) price is in a downward correction but targets level $102.00. The crypto’s price has broken above the 21-day line moving average but it is below the 50-day line moving average. Solana will rise to a level $106 or $122 if the bulls break above the 50-day line moving average. However, if buyers fail to break above the 50-day line moving average, the altcoin will be compelled to a range-bound move between the moving averages.

Solana (SOL) Is Confined in a Range but Targets Level $102.00
SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
Solana is at level 52 of the Relative Strength Index for period 14. The altcoin is in the uptrend zone and is capable of a further upward move. Solana is above the 50% range of the daily stochastic. The cryptocurrency is in a bullish momentum. The crypto’s price is between the moving averages indicating a possible range move.

On the 4 –hour chart, SOL/USD is in an uptrend but targets level $102.00. The crypto’s price has broken above the moving averages. The uptrend is hampered at the resistance of $95. Meanwhile, on March 17 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Solana will rise to level 2.0 Fibonacci extensions or $102.66.

Solana (SOL) Is Confined in a Range but Targets Level $102.00
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.