Solana Steadily Declines but Is Still Above $130

Key Highlights

Solana holds above $130
The altcoin continues its sideways move

Solana (SOL) Current Statistics

The current price: $142.01
Market Capitalization: $75,900,317,930.19
Trading Volume: $3,511,346,635.09
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bearish

Solana’s (SOL) price has failed to maintain its positive trend above the moving average lines but is still above $130. The cryptocurrency price falls after being rebuffed three times by the moving average lines. Since June 5, the crypto asset has traded above the $130 support level but below the moving average lines. Buyers have failed to raise the price above the moving average lines.

Solana has been steadily declining since hitting its high price of $187. If Solana’s altcoin loses its current support at $130, it could drop. The altcoin will continue to drop until it reaches $110. The altcoin’s current value is $141.71 as of this writing.

Solana (SOL) Price Indicator Analysis

Since June 5, the price bars have been limited below the moving averages. This indicates that the altcoin could be in a bearish trend. The existence of Doji candlesticks has forced the altcoin to move in a range-bound fashion. Doji candlesticks demonstrate traders’ lack of concern for the market’s direction.

What Is the Next Move for Solana (SOL)?

Solana’s continues to oscillate below the moving average lines but is still above $130. On the 4-hour chart, the altcoin has traded above the $128 support and below the $148 resistance level. The altcoin is now trading in the center of its price range. The existence of Doji candlesticks makes it uncertain where the altcoin will trend. Solana will resume a positive trend when buyers push the price above the moving average lines.

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