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Solana (SOL) price increased despite a period of sideways movement.

Long-term SOL price forecast: up

Earlier, the altcoin was bounded between $75 support and $90 resistance. After breaking the $90 resistance, the bulls are now trying to clear the 50-day SMA barrier. If the buyers manage to push the price above the 50-day SMA, Solana could rise to $130. However, if it breaks below the 50-day SMA, it is likely that the altcoin will return to its range from the $75 support.

At the moment, the bullish momentum has returned to its last high, and Solana is expected to continue moving within the range for a few more days. SOL is currently trading at $88.76.

Technical indicators

• Main supply areas: $220, $240, $260

• Key areas of demand: $140, $120, $100

Solana price indicator

Since March 9, the cryptocurrency has been trading between the 21-day SMA support and the 50-day SMA barrier. Long candlestick pits appear around the $90 barrier, indicating significant selling pressure at the recent high. The 21-day and 50-day SMAs are moving horizontally on the 4-hour chart, indicating a sideways trend.

What’s next for Solana?

Solana remains in a sideways pattern, above the $80 support and below the $95 resistance. On the 4-hour chart, the SOL price is above the moving averages but below the $95 barrier. The altcoin declined and is now above the $80 support. The price remained stable due to the formation of Doji candlesticks.

Disclaimer. This analysis and prediction is the author’s personal opinion. The information 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 considered an endorsement by Coinidol.com. Readers should do their own research before investing in funds.