SOL/USD Is Back Above $14 Resistance

At the time of writing, the Solana price prediction is seen moving above the $14 level as the coin crosses above the 9-day moving average.

Solana Price Statistics Data:

• Solana price now – $14.16
• Solana market cap – $5.1 billion
• Solana circulating supply – 362.7 million
• Solana total supply – 534.2 million
• Solana Coinmarketcap ranking – #14

SOL/USD Market

Key Levels:

Resistance levels: $28, $30, $32

Support levels: $6, $4, $2

SOL/USD touches the daily high at the $14.46 level as the coin faces the path of development since yesterday but the bullish movement can only be confirmed if the market price crosses above the 21-day moving average. However, the Solana price is hovering above the 9-day moving average at $14.16 with 14% gains in the last 24 hours.

Solana Price Prediction: Solana (SOL) May Gain More

As the daily chart reveals, traders can observe that since the beginning of this month, the Solana price has not been able to display strong bullish momentum as the coin is seen decreasing drastically. Therefore, the Solana price needs to stay above $14 consistently for the next few days to regain the proper bullish momentum. However, the technical indicator Relative Strength Index (14) recovers from the oversold region, the signal line is pointing to the north to give more bullish signals.

At the time of writing, the Solana price only needs to conquer a few crucial resistance levels of $15 and $20 to stay comfortably at the top. Now, if the coin closely manages these levels well, then it could reach the potential resistance levels at $28, $30, and $32 respectively. On the downside, if the bears wish to maintain their drive, SOL/USD may likely drop below the lower boundary of the channel, any further bearish movement could drag the coin to the critical supports at $6, $4, and $2 respectively.

Against Bitcoin, Solana is consolidating above the 9-day moving average as the price is changing hands at 8542 SAT while the technical indicator Relative Strength Index (14) moves to cross above the 40-level.

However, the daily chart reveals that buyers are likely to have the day as the resistance levels to be reached could be 1400 SAT and above. On the contrary, a lower sustainable move below the lower boundary of the channel may cancel the bullish pattern and could attract new sellers to hit the support at 2700 SAT and below.

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