SOL/USD Trades Near $190 Level – Cryptovibes.com – Daily Cryptocurrency and FX News
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Solana Price Analysis – December 16
The Solana price is soaring to the upside as the coin keeps moving above the expected level.
SOL/USD Market
Key Levels:
Resistance levels: $215, $225, $235
Support levels: $150, $140, $130
SOL/USD is indicating a bullish movement in the market, hovering above the 9-day moving average to touch the 21-day moving average within the channel. A couple of days ago, the Solana price is see moving at a high speed in the market. However, the market is projecting a volatile movement where Solana could face more bullish movements.
Solana Price Analysis: SOL Price Aims Higher
According to the daily chart, the Solana price keeps hovering within the 9-day and 21-day moving averages. However, any drop below the 9-day moving average may bring the price to the support levels of $150, $140, and $130 after breaking below minor support at $160.
Moreover, considering a continuous upward trend, SOL/USD could once surge towards the upper boundary of the channel to hit the resistance levels of $215, $225, and $235 in the long-term bullish. Therefore, the technical indicator Relative Strength Index (14) is looking bullish at the moment as the signal line prepares to aims to cross above 60-level.
SOL/BTC Market: Solana Price Sets for Upward Movement
When compares with Bitcoin, the Solana (SOL) is seen trading above the 9-day and 21-day moving averages within the channel where the price is expected to face the upper boundary of the channel. However, should the price succeeds, it may continue an upward trend which could touch the potential resistance level of 4300 SAT and above.
On the contrary, if the SOL price crosses below the 9-day and 21-day moving averages, the coin is could touch the support at 3200 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) confirms that the market may focus on the north to start giving more bullish signals as the signal line moves above 50-level.
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