Solana’s Rebounds Exceed $128 as the Bulls mount a strong defense

Solana's Rebounds Exceed $128 as the Bulls mount a strong defense

Jun 19, 2024, at 05.14 // Price

Solana (SOL), continues to trade above the $128 support, but below the $180 resistance. CryptoGuestPosts provides a price analysis.

Solana Price Long-term Outlook: Bearish

The $180 barrier has stopped the upward trend twice. The cryptocurrency is trading under the moving average but above the $128 resistance. The upward movement begins if buyers maintain the price above moving average lines, or $180 resistance.

Solana's price is currently rising above its current support level of $128. Solana's price could drop if bears breach the $128 support level. Altcoins will crash to their previous lows of $116. Solana was trading at $138 when this article was written.

Solana Price Indicators: Analysis

After the rejection of $180, the cryptocurrency's price bars have fallen below the moving-average lines. Solana is therefore at risk of further decline. The altcoin is now above the $128 support level. The future of cryptocurrency prices is unknown.

Technical indicators

Important Supply Zones: $200, $220 and $240

Important demand zones: $120, $100, $80

What's Solana next move?

Solana's 4-hour chart shows a series lower highs, and lower lows after its rejection at $175. Altcoin dropped to $128 and then rebounded. SOL bounces as it approaches $126. The crypto signal is showing a sideways movement.

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Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as a endorsement by CryptoGuestPosts.com. Before investing in funds, readers should conduct their own research.

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