Solana Stabilizes as Buyers Recuperate Above the $130 Support

Key Highlights

Solana faces further rejection at the $150 high
It has fallen above $130 support

Solana (SOL) Current Statistics

The current price: $141.48
Market Capitalization: $82,446,634,310
Trading Volume: $1,759,599,751
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Ranging

The price of Solana (SOL) is trending sideways and is declining below the moving average lines as buyers recuperate above the $130 support. The altcoin began to recover again after plunging below $136. The longer candlestick wicks suggest that the asset associated with cryptocurrencies is being rejected by the 21-day SMA.

At the 21-day SMA, the long candlestick tail indicates strong selling pressure. Should the present support fail, Solana will drop to its previous low of $126. The altcoin has been fluctuating between the overhead resistance at $190 and the $126 support level since April 13.

The altcoin is currently oscillating below the moving average lines and above the $126 support. At the time of writing, Solana is worth $139.

Solana (SOL) Price Indicator Analysis 

The moving average lines on the 4-hour chart are sloping horizontally as a result of Doji candlestick consolidation. The price movement is dominated by Doji candlesticks. These candlesticks depict traders who are unsure about the direction of the market. There has been little change in pricing above the $139 support level.

What Is the Next Move for Solana (SOL)?

Solana is trading in a confined range below the moving average lines as buyers recuperate above the $130 support. The existence of Doji candlesticks has caused price movement to remain stationary. The cryptocurrency’s price is stabilizing above the $130 support level, as bearish momentum slows near the previous low. The crypto signal is range-bound as the sideways trend continues.

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