CandleFocus

Solana Continues To Rise But Pauses Above $174

Author: Content Editor
The price of Solana (SOL) has been correcting upwards and is currently in a sideways trend. It reached a high of $183 but is now falling again. If it retraces and stays above the $160 breakout level, Solana could continue to rise. However, if the negative trend breaks below the moving average lines, it could fall above $150. The altcoin is currently trading in a bullish trend zone but will face resistance if it falls below the 21-day SMA. The key supply zones for SOL are $200, $220, and $240, while the key demand zones are $120, $100, and $80. On the 4-hour chart, Solana is in an uptrend but has paused near the $180 barrier. It is trading above the 50-day SMA support but below the 21-day SMA resistance. Over the past two months, SOL has been trading between $130 and $160. This analysis and forecast are the personal opinions of the author and not a recommendation to buy or sell cryptocurrency.

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