SOL Heads to the $40 Resistance


The Solana price prediction reveals that SOL may follow the bullish movement as the coin hovers around the $38 resistance level.

Solana Prediction Statistics Data:

  • Solana price now – $38.76
  • Solana market cap – $13.2 billion
  • Solana circulating supply – 343.7 million
  • Solana total supply – 511.6 million
  • Solana Coinmarketcap ranking – #9

SOL/USD Market

Key Levels:

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Resistance levels: $80, $82, $84

Support levels: $10, $8, $6

According to the daily chart, SOL/USD is likely to touch the nearest resistance level of $40 as the coin heads to the upside. However, traders can see that this crypto’s difficult period is over as it is trying to create a new trend. The Solana price is currently trading at $38.5 after touching the daily high at $39.25 above the 9-day and 21-day moving averages.

Solana Price Prediction: SOL/USD Gets Ready for the Upward Movement

At the time of writing, the Solana price is beginning to create a new uptrend. A break above the resistance level of $40 could encourage more buyers to increase their entries, which could later push the price towards the resistance levels of $80, $82, and $84. On the downside, any bearish movement below the 9-day and 21-day moving averages could gain traction with the next focus at $30 support.

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Moreover, if the above mentioned-support is broken, the downside pressure may increase while the next support may be located at $10, $8, and $6. The technical indicator Relative Strength Index (14) confirms the bullish movement as the signal line crosses above the 50-level.

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SOL/BTC Market: Price Keeps Moving Sideways

When compared with Bitcoin, the Solana price is above the 9-day and 21-day moving averages. Meanwhile, a daily close above the upper boundary of the channel could encourage the bulls to extend the rally towards 2500 SAT and above. In other words, a close below the 9-day and 21-day moving averages could reverse the Solana price direction towards the daily support at 1500 SAT.

SOLBTC – Daily Chart

However, any further bearish movement could take the coin to the support of 1300 SAT and below. Meanwhile, there is a possibility that SOL/BTC may continue the bullish trend as the technical indicator Relative Strength Index (14) moves to cross above the 60-level with the signal line facing up to indicate bullish movement.

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