Solana Slumps Again Above $80

Solana (SOL) prices have risen above the moving average lines, reaching $90 on April 16.

SOL price long-term prediction: bullish

Previously, SOL reached $97 but was rejected on March 16, as Coinidol.com reported.

Today, the cryptocurrency is declining towards the moving average lines. If the price retraces and remains above the moving average lines, the altcoin will trade above them but below the $90 high. Solana will lose its price level if sellers push the price below the moving average lines, and the altcoin will return to its low of $75.

However, if buyers break the $90 barrier, the altcoin will retest its previous high of $106. Today, Solana costs $85.98.

Technical indicators

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

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

SOL price indicators reading

Following the recent bounce, the price bars are now above the horizontal moving average lines. The 21-day SMA is below the 50-day SMA, indicating a previous decrease. On the 4-hour chart, the price bars have fallen between the upward-sloping moving averages. The 21-day SMA is above the 50-day SMA, indicating the previous bullish rise.

What is the next move for Solana?

Solana’s price has fallen between the moving average lines on the 4-hour chart. Bullish momentum has paused twice near the $90 level. SOL is now trading above the 21-day SMA support but below the $90 threshold. The altcoin is reverting towards the moving average lines but has stalled above them. Solana will trade above the moving average lines for a few days.

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.