Solana's (SOL) price has continued to rise and is now at a new high. It was previously $210

Bullish outlook on the price of Solana in the long-term

Bulls tested and broke the $180 mark twice before continuing their upward trend. The uptrend is stalled at the high of $220. If the upward trend continues, Solana's previous high will be 259. The cryptocurrency will trade in a bullish market if the upper resistance level of $259 is breached. The altcoin is now completely out of bear market.

Solana's current high could drop as the market enters overbought territory. The altcoin is forced to move in a sideways pattern above the $180 level, but below the $220 barrier. This will make the bullish scenario irrelevant.

Solana Price Indicator Analysis

Moving average lines slope upwards with the trend. The 21-day SMA supports the price bars rising on the 4-hour chart. Bulls have broken through resistance at $180 to break the sideways trend. The price may rise even further.

Technical Indicators

Key supply zones: $200, $220, $240

Demand zones for $120, $100 and $80

What's the next step for Solana?

Solana's 4-hour chart shows an uptrend, with higher highs. As they approach $220, the price bars are rising above the SMA 21-day. Solana is likely to fall if 21-day SMA resistance is breached.

Disclaimer. Disclaimer. This analysis and forecast is the personal opinion of the author. These are not recommendations to buy or trade cryptocurrency, and should not be seen as endorsements by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.