Coinidol.com: Solana Resumes Its Sideways Move Above $80

Solana (SOL) price fell to its critical support, but buyers halted the decline.

Now, the altcoin is rising after dropping to a low of $81. Price movement has been limited due to the formation of Doji candlesticks. The current upward trend is likely to face rejection at the 21-day SMA and the 50-day SMA barriers.

Key supply zones: $220, $240, $260

Key demand zones: $140, $120, $100

The moving average lines are horizontal, but the 21-day SMA is above the 50-day SMA support. The price range has persisted due to the formation of Doji candlesticks, which indicate traders are undecided about the market direction. On the 4-hour chart, the 21-day SMA is below the 50-day SMA support, indicating a decline.

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.