The Solana price prediction clears above the resistance level of $50, but the recovery may not reach the 21-day MA.
Solana Prediction Statistics Data:
- Solana price now – $50.8
- Solana market cap – $17.14 billion
- Solana circulating supply – 337.4 million
- Solana total supply – 511.6 million
- Solana Coinmarketcap ranking – #9
SOL/USD Market
Key Levels:
Resistance levels: $80, $85, $90
Support levels: $15, $10, $5
SOL/USD is currently hovering near the 9-day moving average at the time of writing. The technical indicator Relative Strength Index (14) is currently moving below 40-level, preparing for a bullish trend. The buyers seem to be gaining traction due to enough trading volume that is needed to sustain gains to $51. Meanwhile, the more the price delays the spike above $51, the stronger the sellers become.
Solana Price Prediction: Solana Breakout Seems Sustainable
The Solana price is attempting to cross above the 9-day moving average as the technical indicator may continue the bullish session in the next few trading days. It is, however, not clear how long the session will last because, since the beginning of this month, the bullish sessions have been frequent.
On the downside, a bearish movement below the lower boundary of the channel may bring back the short-term selling pressure while the next supports may come at a psychological $15, $10, and $5. Meanwhile, any further bullish movements above the 21-day moving average may hit the next resistance levels at $80, $85, and $90.
SOL/BTC Market: Bulls Are Getting Ready
Compared with Bitcoin, the SOL price is likely to cross above the 9-day moving average, currently trading at 1762 SAT. However, looking at the daily chart, if SOL/BTC makes a clear cross towards the 21-day moving average, traders can now say the bulls have come back fully into the market.
Meanwhile, if the market drops below the lower boundary of the channel, the next key supports could be at 1200 SAT and below. On the bullish side, any additional bullish trend could push the market price to the resistance level of 2200 SAT and above. More so, the daily Relative Strength Index (14) reveals that the market may break to the upside if the signal line crosses above the 40-level.
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Source: https://insidebitcoins.com/news/solana-price-prediction-for-today-may-19-sol-gains-4-07-as-price-revisits-50-level