SOL May Break Above $40 Level

The Solana price prediction may continue to show a bullish movement if the market could rise above the $40 resistance level.

Solana Prediction Statistics Data:

Solana price now – $36.1
Solana market cap – $12.4 billion
Solana circulating supply – 342.2 million
Solana total supply – 511.6 million
Solana Coinmarketcap ranking – #9

SOL/USD Market

Key Levels:

Resistance levels: $60, $62, $64

Support levels: $10, $8, $6

SOL/USD is showing positive movement for the past few days as the market crosses above the 9-day moving average. Apart from this, the price of Solana still has to conquer the 21-day moving average within the channel and traders can expect the price to continue to rise as soon as this is done.

Solana Price Prediction: Solana Price Could Shoot to the North

The daily chart shows that the Solana price is attempting to create a new positive trend, and traders may expect a bullish continuation towards the upside, which could test the resistance level of $40. Similarly, the technical indicator Relative Strength Index (14) moves to cross above the 50-level, and crossing above this level may locate the potential resistance levels at $60, $62, and $64 in the long term.

Meanwhile, if the Solana price spike to the upside, traders may witness additional bullish trends in the coming trading sessions. Meanwhile, a bearish breakdown may likely play out for this market if the Solana price withdraws back below the 9-day moving average, and this could roll the coin back to the long-term supports at $10, $8, and $6.

Against Bitcoin, the Solana price follows the bullish movement as the coin remains above the 9-day and 21-day moving averages. More so, if the pair touches the resistance level of 4000 SAT, the market is likely to keep releasing more bullish pressure as the technical indicator Relative Strength Index (14) moves around 60-level, which indicates that more bullish signals are going to play out.

However, if SOL/BTC falls and crosses below the 9-day moving average, it may bring the coin to the nearest support at 3500 SAT, and any further bearish movement could lower the price to the support level of 3200 SAT and below. Nevertheless, if the coin continues to follow a bullish movement and crosses above the upper boundary of the channel, traders could see a bull run to the resistance level of 4500 SAT and above.

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