Solana Dips and Returns to Its Range above $75

The price of Solana (SOL) has started to decline after breaking above the 21-day SMA barrier.

SOL price long-term prediction: ranging

Bullish momentum was halted below the 50-day SMA barrier, but remained above the 21-day SMA support. On the upside, Solana could have risen to the highs of $92 and $100 if buyers had broken through the 50-day SMA level. The cryptocurrency has lost its 21-day SMA support as it returns to its critical support level of $75.

Meanwhile, the price is fluctuating between the moving average lines. Solana is worth $82.12 at the time of writing.

Technical indicators

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  Key supply zones: $220, $240, $260

• 
  Key demand zones: $140, $120, $100

SOL price indicators analysis

The price has fallen below the moving average lines but has stalled above the 21-day SMA support. Price movement has been constrained due to the formation of Doji candlesticks, which indicate traders are uncertain about the market’s direction. The 4-hour chart shows the price below the horizontal moving average lines.

What is the next move for Solana?

Solana has fallen below the moving average lines on the 4-hour chart. The price retraced and found support above the $82 low. The price is falling as bullish momentum has been hampered by the moving average lines. The altcoin has returned to its range above the $75 support and below the moving average lines.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.