The Price of Solana (SOL) Reaches $100
The price of Solana (SOL) has reached the predicted level of $100 on December 22, although it encountered resistance at this level.
Long-term Forecast: Bullish
The current price of Solana is oscillating below its recent high and has entered the overbought zone. It is unlikely that the cryptocurrency will continue to rise. If buyers keep the price above $100, it may reach a high of $120. However, if the recent high is rejected, Solana will fall above the $75 low. The current uptrend will end if the price falls below the 21-day SMA. At present, Solana is worth $95.80.
Analysis of Solana Price Indicators
The moving average lines are trending upwards without any price bars blocking their path. If the price bars fall below the 21-day and 50-day SMAs, there may be a downward trend. The altcoin is currently in an overbought area, so if sellers enter the market, the price may fall.
Technical Indicators
Key supply zones for Solana are at $60, $65, and $70. Key demand zones are at $30, $25, and $20.
What’s Next for Solana?
Solana briefly reached the $100 level before falling back to the $92 support. Over the last 48 hours, it has been fluctuating between $92 and $100. The altcoin is currently trading within a range that could be easily broken, leading to a new trend.
It was previously reported that on December 8, the uptrend was interrupted at the high of $75.
Hot Take: Solana’s Resistance at $100
The price of Solana (SOL) has finally reached the predicted level of $100. However, it encountered resistance at this level and fell back to the $92 support. The altcoin is now trading within a range that could determine its next move. If buyers manage to keep the price above $100, it may reach a high of $120. On the other hand, if the recent high is rejected, Solana could fall below the 21-day SMA or even the $75 low. The moving average lines and overbought area indicate potential volatility in the market. Keep an eye on Solana’s price as it continues to navigate these levels.
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