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The latest price analysis by Coinidol.com report, the price of Solana (SOL) has gone below the moving average lines reaching a low above the $171 low.
Solana price long term prediction: bearish
The crypto asset peaked at $260 before falling below the moving average lines. The altcoin sank to the projected price level while remaining above the breakout level of $175. If the current support holds, the negative trend will be over. Solana will begin its bullish rise. Currently, altcoin is trading above the $170 support but below the moving average lines. A break above the moving average lines will indicate the return of upward momentum. The altcoin will soar to its prior top price of $260. Solana is now worth $184.
Solana price indicator analysis
The price bars are now below the moving average lines having previously been caught between them. Selling pressure in the negative trend zone has eased. A long candlestick tail indicates the current support. The extended candlestick tail implies significant buying pressure at the lower price point. The moving average lines are sliding southward, indicating a downturn.
Technical indicators
Key resistance levels: $220, $240, $260
Key support levels: $140, $120, $100
What is the next step for Solana?
Solana is falling on the 4-hour chart and selling pressure has eased above the $170 support level. The cryptocurrency is trading above the $170 support but below the moving average lines. The altcoin is rising towards the moving average lines. The upside momentum will start if the price breaks above the moving average lines and the resistance at $240.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.