Solana Price Prediction for Today, August 27

Solana Price Prediction for Today, August 27 – SOL Technical Analysis

Updated: 27 August 2023

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The Solana price prediction may continue to show a bullish movement if the market could rise above the $22 resistance level.

Solana Price Statistics Data:

Solana price now – $20.68
Solana market cap – $8.4 billion
Solana circulating supply – 408.0 million
Solana Coinmarketcap ranking – #12

SOL/USD Market

Key Levels:

Resistance levels: $28, $30, $32

Support levels: $14, $12, $10

Solana Price Prediction for Today, August 27 - SOL Technical Analysis — SOLUSD – Daily Chart

SOL/USD is at the moment showing a positive movement as the market moves to cross above the 9-day moving average. Apart from this, the Solana price still needs to head towards the upper boundary of the channel and traders can expect the price to continue to rise as soon as this is done.

Solana Price Prediction: Solana Price Will Shoot to the North

The daily chart shows that the Solana price is likely to create more positive trends, and traders can expect a bullish continuation which could test the resistance level of $25. Moreover, the technical indicator reveals Relative Strength Index (14) is moving above the 40-level which could locate the potential resistance levels at $28, $30, and $32.

Nevertheless, if the Solana price maintains the rising channel pattern, traders may witness additional bullish trends in the coming trading sessions. Meanwhile, a bearish breakdown could play out for this market if the Solana price withdraws back below the lower boundary of the channel, and this could make the coin locate the supports at $14, $12, and $10.

SOL/BTC Could Make A Bullish Movement

Against Bitcoin, the Solana price could also follow the bullish movement. If the coin crosses above the 9-day and 21-day moving averages, the market is likely to keep releasing more bullish pressure, and to confirm this, the technical indicator Relative Strength Index (14) could also move to cross above the 50-level, which indicates that more bullish signals are going to play out. Traders could see a bull run to the resistance level of 10000 SAT and above.

On the contrary, if SOL/BTC slides below the 9-day and 21-day moving averages, it may bring the coin to the nearest support at 6500 SAT, and any further bearish movement could lower the price to the support level of 6000 SAT and below.

Solana Alternatives

The Solana price is likely to head toward the upper boundary of the channel if the coin can make a bullish cross above the 9-day and 21-day moving averages. However, as the coin begins a slight increase, the market price could hit the potential resistance level at $25 before creating additional gains.

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