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Key Highlights
Solana has regained bullish momentum
The altcoin’s overhead resistance at $107 has been breached
Solana (SOL) Current Statistics
The current price: $108.89
Market Capitalization: $61,922,285,167
Trading Volume: $1,441,040,650
Major supply zones: $100, $120, $140
Major demand zones: $60, $40, $20
Solana (SOL) Price Long-Term Prediction: Bullish
Solana’s (SOL) price has recovered bullish momentum but is stuck at $110 high. The crypto asset was earlier caught between the moving average lines, and upward moves were repelled by the resistance at .$107. Solana has overcome the $107 resistance level today, but the bullish momentum is stuck near the $110 high.
If the present resistance level is breached, the altcoin will return to its prior high of $126. Furthermore, the cryptocurrency could continue to rise. According to the price indicator, Solana will advance to the 2.0 Fibonacci extension level or level of $135.34.
In the meantime, the altcoin is trading below the $110 resistance mark. Furthermore, if the altcoin falls below the $107 support, Solana will fall back to its earlier low of $92.
Solana (SOL) Price Indicator Analysis
Solana’s price bars became tangled up with the moving average lines before rising back above them. The crypto’s price strives to soar while above the moving average lines. The moving average lines limit the price bars while the altcoin is in the bearish trend zone.
On the 4-hour chart, the moving average lines are sloping higher, indicating a fresh uptrend.
What Is the Next Move for Solana (SOL)?
On the 4-hour chart, the crypto’s price breaks the resistance at $107 but is stuck at $110 high. The bullish momentum was repelled at the recent high. The altcoin is progressively increasing to retest and break the resistance level of $110.
The crypto signal will turn positive after the bulls break the resistance at $110.
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