The Solana price prediction may continue to show a bullish movement if the market could rise above the $42 resistance level.
Solana (SOL) Statistics Data:
- Solana price now – $41
- Solana market cap – $14.1 billion
- Solana circulating supply – 345.8 billion
- Solana total supply – 511.6 billion
- Solana Coinmarketcap ranking – #9
Resistance levels: $75, $80, $85
Support levels: $10, $8, $6
SOL/USD is showing positive movement as the market stays above the 9-day and 21-day moving averages. Apart from this, the Solana price still needs to create additional bullish movements above the $45 resistance level within the channel and traders can expect the price to continue to rise as soon as this is done.
Solana Price Prediction: Solana Price Will Shoot to the North
The daily chart shows that the Solana price is attempting to create a new positive trend, and traders may expect a bullish continuation towards the upper boundary of the channel which could test the resistance level of $50. Similarly, the technical indicator reveals Relative Strength Index (14) remains above 50-level, any further bullish movement above the upper boundary of the channel may locate the potential resistance levels at $75, $80, and $85 in the long term.
Furthermore, if the Solana price begins the rising channel pattern, traders may witness additional bullish trends in the coming trading sessions. Meanwhile, a bearish breakdown may likely play out for this market if the Solana price withdraws back below the moving averages, and this could roll the coin back to the long-term supports at $10, $8, and $6.
Against Bitcoin, the Solana price follows the sideways movement as the coin prepares for a movement to the upside. However, if the coin touches the resistance level of 2000 SAT, the market is likely to keep releasing more bullish pressure as the technical indicator Relative Strength Index (14) remains above the 50-level, which indicates that more bullish signals are likely to play out.
In other words, if SOL/BTC falls and stays below the 9-day moving average, it may bring the coin to the nearest support at 1500 SAT, and any further bearish movement could lower the price to the support level of 1200 SAT, and below. Nevertheless, if the coin continues to follow a bullish movement and faces the upper boundary of the channel, traders could see a bull run to the resistance level of 2500 SAT and above.