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:

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.

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.

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.

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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