Solana Rises But Drops Back To $176

Mar 19, 2024 at 10:51 // Price
Author
Coin Idol

The price of Solana (SOL) has overcome the resistance level of $150 and is thus continuing its upward trend.

Solana price long term forecast: bullish

Yesterday, the cryptocurrency reached a high of $200. The altcoin is recovering from its previous fall. Buyers were likely to drive the price of the cryptocurrency to $259.00.

However, on March 19 cryptocurrency market is in the downtrend again. Cryptocurrencies are falling back. The price of Solana moved back to the level of $176.

Analysis of the Solana price indicator

The cryptocurrency's price bars have consistently remained above the lines representing the moving averages as the uptrend continues.

Technical Indicators

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

Key demand zones: $80, $60, $40

SOLUSD_(Daily Chart) – March 17.jpg

What is Solana's next move?

Solana's rising trend is targeting the $259.00 overhead resistance. Now, buyers need to reach the resistance level to sustain their bullish momentum. 

SOLUSD_(4-hour Chart) – March 17.jpg

Disclaimer. This Analysis and forecast are the personal opinions of the author and 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.

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