Solana (SOLUSD) Price Overcomes Bearish Pressure

Solana (SOLUSD) Price Forecast: July 12

The SOLUSD pair has recorded notable growth as it overcomes bearish pressure in the ongoing crypto market rally. However, to accumulate the cryptocurrency at the peaks, the bulls found appropriate support at the $159.38 daily rising trend line of the pattern. A possible buy signal may arise from the increased buying pressure if the coin closes over the $270.00 peak barrier, which could push the coin price up to the $280.00 upper resistance mark.

Key Levels:
Resistance Levels: $159.00, $160.00, $161.00
Support Levels: $103.00, $102.00, $101.00

SOL (USD) Long-term Trend: Bullish (Daily Chart)

Solana market price overcomes bearish pressure with full opportunities for exponential growth as it climbs steadily above the supply level, suggesting a bullish momentum in its long-term outlook.

Meanwhile, the upward trend may continue following the increasing volume by the bulls.

The coin has been having a series of moves by the bulls, making it easier for the crypto price to overcome selling pressure and remain firm in an uptrend at its recent high.

Today, the SOLUSD pair overcomes bearish pressure as it rises to a $159.38 high mark above the EMA-50 as the daily chart opens, anticipating further gains ahead as it continues its upward trajectory.

Thus, if the bullish trend persists, the coin price is expected to retest the $270.00 previous resistance level and aim for the $270 target.

Additionally, Solana price indicates an upward momentum on the daily signal, implying that the pair will continue to increase to the upside, leading the crypto price to the $280.00 upper resistance trend mark in the coming days, as it overcomes selling pressure in its higher time perspective.

SOL (USD) Medium-term Trend: Bullish (4H Chart)

The medium–term chart of the Solana pair shows that the price has overcome bearish pressure with a bullish sentiment as it remains in an uptrend. The price currently trades above the EMA-50, confirming its bullishness.
The breakout to the $155.55 supply value in the last session has made the coin overcome selling pressure and retain its bullish strength lately.

Earlier today, the coin buyers caused a rise in the price of SOLUSD to a high of $158.57 above the moving averages, creating a robust area of interest for buyers as it overcame selling pressure.

The SOLUSD remained an over-performing asset this year, and an upside breakout from a bullish pattern reflects the aggressive nature of buyers.

Therefore, in the coming days, the rally may rise to the $280.00 psychological barrier on the upside if the price of Solana maintains above the current resistance level.

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