The price of Solana (SOL) has regained its positive momentum after rising above the moving average lines.
Solana price long-term prediction: bullish
The price of the cryptocurrency has reached resistance at $167 and is now struggling to hold above the moving average lines. While it is trying to stay above the moving average lines, the price of SOL is bearish. If the altcoin stays above the moving average lines, it will rise to a high of $185.
On the other hand, the cryptocurrency price would return to its previous low of $140 if it falls below the moving average lines. In the meantime, the altcoin is below the resistance level at $185 but above the moving average lines. Solana is valued at $164 at the time of writing.
SOL price indicators analysis
On June 10, the cryptocurrency crossed above the moving average lines. The cryptocurrency could be in an uptrend, as shown by the price bars above the moving average lines. The moving average lines of the 4-hour chart are trending upwards with a bullish crossover. The existence of doji candlesticks causes the altcoin to move slowly.
Technical indicators
Key supply zones: $220, $240, $260
Key demand zones: $140, $120, $100
What is the next step for Solana?
Solana continues to rise, staying above the moving average lines. A high of $185 is expected for the cryptocurrency. The altcoin is oscillating below the $168 threshold on the 4-hour chart. If the altcoin overcomes the current obstacle, it will reach the high of $185. The price bars remain above the moving average lines, indicating a strong crypto signal.
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.
