Solana (SOLUSD) Price Retracement May Reach the $250.00 High Value

Solana (SOLUSD) Price Forecast: March 20

The SOLUSD price is rising again after the low dips. The price retracement may reach the $241.82 peak barrier as the bulls return strategically to command the coin price. Thus, a sharp breakout and closure above the mentioned supply level may extend the crypto price to hit the $250.00 upper resistance level, indicating a significant upward trend.

Key Levels:
Resistance Levels: $206.00, $207.00, $208.00
Support Levels: $178.00, $177.00, $176.00

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

The SOLUSD pair undergoes a reversal and its price retracement may reach the prior resistance level, following the return of bulls to the market in its higher time frame. The coin is in a bearish trend market zone due to the inflow from the sell traders.
The price drop to the $133.00 low value in the previous action has made the coin price trade below the supply levels in its recent correction. This will soon be invalidated as the trend has just resumed its rising pattern but has not yet reached its goal.

However, the Solana price retracement at $141.58 high value below the EMA-50 as the 4-hourly chart resumes confirms the bulls’ return and this may reach the resistance level, signaling the potential for further increase.

Therefore, if the crypto rises from its present price at the $141.58 supply value above the moving average line, it will enter a bullish trend. The buy traders may see immediate gains if this push continues to the $241.82 resistance area.

Additionally, the momentum indicator pointing upwards suggests the continuation of the bullish trend. In light of this, the Solana price retracement may reach the $250.00 supply value in the coming days in its long-term outlook.

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

The SOLUSD is experiencing a price retracement in its medium-term outlook. The market structure suggests that the price retracement may reach the $180.61 supply level soon as it begins its rising pattern. The coin is trading below the EMA-50, confirming its bearishness.
The high bearish impact on the crypto at the $137.77 low level in the previous action has contributed to its bearishness in its recent high.

Despite the interactions from the short traders, the bulls caused a rise in the price of Solana to a $141.65 high level below the EMA-50 as the 1-hourly session resumes today. The price is fetching some fresh buying interest as the selling pressure seemed exhausted.

Therefore, if the bulls could increase their tension in the market, the price retracement may reach the high of $180.61, providing suitable support for buyers to regain higher recovery.

However, the Solana pair could grow further and may reach the upper high level if the buy traders manage to break up the $180.61 previous high level. In light of this, the token price may reach the high $250.00 resistance level, maintaining a further growth potential for the buy traders in its lower term frame.

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