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Key Highlights
Solana is in a sideways move
Solana recoups above the $51 support
Solana (SOL) Current Statistics
The current price: $57.92
Market Capitalization: $32,615,975,763
Trading Volume: $1,912,628,111
Major supply zones: $60, $70,$80
Major demand zones: $20, $10, $5
Solana (SOL) Price Long-Term Prediction: Bullish
The price of Solana (SOL) remains in the bullish trend zone as it strives for the $97 high. The previous uptrend ended on November 16, however, the decrease remained above the moving average lines. The price of the crypto dropped over the 21-day simple moving average yesterday to test the present support.
The pricing indicator indicates that Solana has the potential to reach the $100 price point. A retraced candle body on the November 16 upswing tested the 61.8% Fibonacci retracement level. The retracement predicts that the market will rise to the 1.618 Fibonacci extension or $97.41 level.
At the time of writing, the altcoin has reached a high of $58.17.
Solana (SOL) Price Indicator Analysis
On November 21, sellers attempted to break below the 21-day SMA, but buyers held the line above the moving average lines, halting the slide. The price bars above the moving average lines indicate that the cryptocurrency will continue to rise.
Meanwhile, the price bars on the 4-hour chart are caught between the moving average lines. It is a sign of the cryptocurrency’s potential range-bound movement.
What Is the Next Move for Solana (SOL)?
Solana is trading sideways in a bullish trend zone as it strives for the $97 high. The altcoin is trading sideways below the $68 barrier level. Solana is currently trading between $51 and $68 per coin. Meanwhile, the price of the cryptocurrency will vary between these levels for a few days.
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