Solana’s price analysis for the recent days shows that it has been trading around the $167.88 per SOL figure. From time to time, the price of SOL has managed to move to up to $180 per SOL price, which is the 20-day EMA mark.
Although SOL has been continuing the to-and-fro movement, the data suggests SOL may not be able to continue with it for long. The data suggests that the price of SOL may not be able to keep up with this movement, and it may soon give up.
When that happens, the price of SOL may end up falling down. The analysts are predicting that as of now, SOL is in the bearish zone. It suggests that the price of SOL is currently in the negative zone and it may continue pulling down in near future.
Like the rest of the cryptocurrencies, the RSI and the moving averages for Solana are in the bearish zone. They are also facing a bearish trend and their price may continue falling down in the negative zone.
The trend suggests that in near future, the bears may increase the selling pressure in order to pull SOL’s price lower. Initially, the bears may attempt to increase their selling pressure in order to drag SOL’s price down to $148.04.
If the bears are able to pull SOL’s price all the way down to $148.04, they may attempt to bring its price even lower. If SOL’s price falls to the particular, it would lower the sentiments of the investors. This may inject more pressure for the investors as they may start selling SOL on a larger scale.
If the bears are able to launch a strong selling activity against SOL, they will be able to pull SOL’s price all the way down to $120 per SOL figure.
If the bulls come into action and they are able to launch a strong rally, it would be the bulls who would be able to increase the price of SOL higher.
A strong rally from the bulls’ end would mean that the investors will be able to push SOL’s price higher and bring it all the way up to $185 per SOL.
The $185 per SOL may turn out to be a strong resistance mark where the bears will come in a lot of force to drag SOL’s price lower. However, if the bulls are able to sustain the pressure from the bears, they will be able to push SOL’s price higher.
If that happens, the bulls will be able to push SOL’s price over the $200 mark, bringing it all the way up to $204.75 per SOL.