Solana's (SOL) price has fallen below the moving average lines, reaching a low of $117 after breaking through the key support level of $120.
SOL price long-term prediction: bearishOn the downside, further declines in the cryptocurrency are unlikely as bulls defend the existing support. For the past month, the current support at $120 has held, with the altcoin continuing its sideways movement.
Technical indicatorsKey supply zones: $220, $240, $260
Key demand zones: $140, $120, $100
Solana price indicators analysisThe moving average lines are horizontal, with the 21-day SMA above the 50-day SMA. The price bars are below the moving average lines, indicating a decline. On the 4-hour chart, the moving average lines are sloping downward, and the price bars remain below them.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.
