Solana’s price prediction remains on the negative side, just like other altcoins in the crypto market.
Resistance levels : $120, $130, $140.
Support levels : $60, $50, 40
SOL/USD is again in full consolidation as the coin breaks below the 9- and 21-day moving averages. The Solana price is now moving around the $82 level. However, if the market continues its descent, the $80 support might surface in the next negative moves.
Solana Price Prediction: Will Solana Price Go Down?
The Solana price site is currently trading below the 9- and 21-day moving averages as the Relative Strength Index (14) technical indicator breaks below the 40 level. Meanwhile, the coin may either move sideways or create a new down by sliding down.
Therefore, if SOL/USD remains under bear control, Solana price might locate the support levels of $60, $50, and $40 respectively. On the upside, if the bulls pull back and push the coin above the 9-day and 21-day moving averages, moving towards the upper boundary of the channel could locate potential resistance levels at $120, $130 and $140 .
SOL/BTC market: The price could move sideways
Looking at the daily chart, SOL/BTC might stay below the 9-day and 21-day moving averages. Although the price is not forming an uptrend on the daily chart, the bulls are trying to recoup the coin on the upside. However, Solana price is likely to create an additional uptrend if the bulls push the coin above the moving averages. Therefore, any further bullish movement could take the coin to the resistance level of 2700 SAT and above.
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However, looking at the current technical indicator Relative Strength Index (14) on the daily chart, it appears that the bears are likely to come into play if the signal line crosses below the 40 level. Meanwhile, if the price of the Solana crosses the lower boundary of the channel, it could touch the support level of 2000 SAT and below.