Solana Price Prediction: SOL Moves to Cross Above Upper Boundary of Channel
The Solana price prediction indicates that SOL is poised to break above the upper boundary of the channel as it reaches the $20.99 level. Let’s take a look at the key statistics and levels:
- Solana price now – $20.79
- Solana market cap – $8.1 billion
- Solana circulating supply – 401.3 million
- Solana total supply – 551.7 million
- Solana Coinmarketcap ranking – #9
SOL/USD Market:
SOL/USD is currently trading at $20.79, with a daily high of $20.99. It is likely to surpass the upper boundary of the channel. If the price remains above the 9-day and 21-day moving averages, we can expect a rally towards the upside.
Solana Price Prediction: Solana (SOL) Could Create Additional Gains
Based on the daily chart, the Solana price is approaching the resistance level of $21, indicating the potential for additional gains. The Relative Strength Index (14) also suggests a buy signal as it moves towards the overbought region.
If the price remains above the moving averages, it may break above the upper boundary of the channel and reach potential resistance levels of $25, $27, and $29. Conversely, falling below the moving averages could lead to support levels at $15, $13, and $11.
Against Bitcoin:
The Solana price against Bitcoin is on an upward trajectory. It may break above the upper boundary of the channel, reaching the resistance level of 8000 SAT and beyond. However, if it falls below the moving averages, it could find support at 5300 SAT and lower.
Alternatives to Solana:
While Solana has been showing strength recently, there are alternative options to consider. One such option is Wall Street Memes (WSM), which has raised over $13 million in its presale. The team behind this project is experienced in the digital space, having previously launched a successful NFT collection called “Wall St Bulls.”
Hot Take: With its bullish movement and potential for additional gains, Solana (SOL) presents an exciting opportunity for investors. However, it’s important to keep an eye on alternative options like Wall Street Memes (WSM) as well.
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