The Solana price prediction is currently heading north and the fall could intensify due to the recent downturn in the cryptocurrency world.
Solana Forecast Statistics:
Solana Current Price- $40.5
Solana Market Cap- $13.8 billion
Solana Circulating Supply - 340.4 Million
Solana Total Supply – 511.6 Million
Solana Coinmarketcap Ranking- 9th
SOL/USD Market
Key Levels:
Resistance levels: $74, $76, $78
Support levels: $10, $8, $6
Buy Solana Now
SOL/USD
It is currently moving sideways below the 9-day and 21-day moving averages. Solana price is currently trading at $40.56, but a break below the previous support at $37 could lead the coin to create new lows in the market.
Solana Price Prediction: Will Solana Price Drop Further?
Solana price is currently range-bound, but if it breaks below the lower boundary of the channel, short-term selling pressure may increase and the next key supports may appear at $10, $8, and $6. Meanwhile, any upside move above the 9-day and 21-day moving averages may reach the next potential resistance levels of $74, $76, and $78.
On the positive side, technical indicators may be starting a new upward trend, but it is unclear how long this trend will last as the bullish and bearish trends have been frequent this month. Therefore, it is important to observe the support levels on the daily chart and the dynamics of other indicators.
SOL/BTC market: bear market is coming
Solana’s market price is heading lower compared to Bitcoin and is currently trading at 1,299 SAT, below the 9-day and 21-day moving averages. Looking at the daily chart, if the coin can break above this resistance, bulls may push the price towards the upper boundary of the channel. However, if the market falls further, the next important support may appear at 8,400 SAT and below.
SOLBTC - Daily Chart
From a bullish perspective, the possible upward momentum could push the market towards the upper boundary of the channel, reaching the resistance level of 1800 SAT and above. Looking at the technical indicator - the Relative Strength Index (14), the market is likely to continue its downward trend as the signal line crosses towards the oversold zone.
Read more:
How to Buy Cryptocurrency
Join our Telegram channel to get instant news coverage.
English 
Chinese (China) 
Chinese (Hong Kong) 