Solana Varies as It Encounters the $200 Barrier

Solana (SOL) Current Statistics

The current price: $193.94
Market Capitalization: $92,971,235,509.18
Trading Volume: $2,575,904,653.33
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bearish

Solana’s (SOL) price is declining as it encounters the $200 barrier. The pullback culminated in an upward correction that encountered resistance near $200. The bullish momentum has been broken at the latest high. Solana is anticipated to fall and revisit its prior low of $180. On the downside, Solana will fall to a low of $155 as bears smash the $180 support.

Solana will restart its bullish trend if the current support level of $180 is maintained. The altcoin will increase to retest or break the $200 resistance level and the 21-day SMA. Solana will return to the previous high of $260 as buyers keep the price above the moving average lines. The altcoin is now valued at $194 as of this writing.

Key Highlights

Solana  faces the barrier at $200
The crypto asset holds above $180 low

Solana (SOL) Price Indicator Analysis 

Solana has a bearish indication when the 21-day SMA crosses below the 50-day SMA. The moving average lines are sloping southward, indicating a negative trend. On December 20, a long candlestick tail points to the $180 support. It shows that there is significant buying pressure above the $180 support.

What Is the Next Move for Solana (SOL)?

On the 4-hour chart, Solana is declining as it encounters the $200 barrier. On the upside, the bullish momentum broke above the moving average lines but was unable to overcome the resistance at $200. The altcoin is dropping near its current support. The range-bound trend will continue if the altcoin falls and finds support above its previous low of $175. Currently, the crypto signal is range-bound as the negative trend fades.

Make money without lifting your fingers: Start using a world-class auto trading solution.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investment.