SOL Range-bounds; Price May Hit $35 High

The Solana (SOL) price prediction may head to the upside as the coin is likely to rise because of a recent bullish movement in the crypto world.

Solana Prediction Statistics Data:

• Solana price now – $33.60
• Solana market cap – $11.9 billion
• Solana circulating supply – 354.7 million
• Solana total supply – 511.6 million
• Solana Coinmarketcap ranking – #9

SOL/USD Market

Key Levels:

Resistance levels: $40, $45, $50

Support levels: $25, $20, $15

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SOL/USD may not be able to continue the bullish movement as the coin may keep ranging within the channel. The Solana price is currently trading at $33.60, sliding from the daily high of $33.98 may cause the coin to face the downside.

Solana Price Prediction: Would Solana Head to the upside?

According to the daily chart, the Solana price is moving sideways, but any bearish movement towards the lower boundary of the channel may increase the short-term selling pressure while the critical supports may come around $25, $20, and $15. Meanwhile, any bullish movement above the 9-day and 21-day moving averages may reach the next resistance levels at $40, $45, and $50.

Nevertheless, the technical indicator could start a new bullish session as the Relative Strength Index (14) moves above 50-level. It is, however, not clear how long the session will last because, in the last few weeks, both bullish and bearish sessions have been frequent. Therefore, it is important to watch the resistance and support levels coupled with the movement of other indicators within the daily chart.

Against Bitcoin, the market price is moving upward as the coin trades at 1729 SAT above the 9-day and 21-day moving averages. Looking at the daily chart, if the coin can make a cross above this barrier, the bulls may push the price towards the channel’s upper boundary. However, if the market drops below the current market value at 1729 SAT, the next key support may come at 1500 SAT and below.

On the bullish side, a possible rise may push the market above the 9-day and 21-day moving averages to hit the resistance level of 2000 SAT and above. As revealed by the technical indicator, the Relative Strength Index (14) who is the owner of the market may begin to follow the upward movement as the signal line heads above the 50-level.

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