Solana Price Prediction for Today, December 29 – SOL Technical Analysis

The Solana price prediction reveals that SOL may continue to follow the bullish movement as the coin hovers at the $107.7 level.

Solana Prediction Statistics Data:

• Solana price now – $107.7
• Solana market cap – $45.8 billion
• Solana circulating supply – 429.17 million
• Solana total supply – 565.8 million
• Solana Coinmarketcap ranking – #5

SOL/USD Market

Key Levels:

Resistance levels: $135, $145, $155

Support levels: $80, $70, $60

According to the daily chart, SOL/USD is moving to touch the resistance level of $110 as the coin begins the upward movement. However, traders can see that this crypto’s difficult period is over as it is trying to create a new trend. The Solana price is currently trading at $107.77 after touching the daily high of $108.64 above the 9-day and 21-day moving averages.

Solana Price Prediction: Solana (SOL) Gets Ready for the North

At the time of writing, the Solana price is beginning to create a new uptrend. A break above the resistance level of $120 could encourage more buyers to increase their entries, which could later push the price towards the resistance levels of $135, $145, and $155. On the downside, any bearish movement below the 9-day and 21-day moving averages could gain traction with the next focus at $95 support.

Moreover, if the support level of $90 is broken, the downside pressure may increase while the critical supports may be located at $80, $70, and $60. The 9-day moving average keeps hovering above the 21-day moving average which confirms the bullish movement within the channel.

SOL/BTC May Reclaim the Uptrend

Against Bitcoin, the Solana price is hovering above the 9-day and 21-day moving averages. Meanwhile, a daily close above this barrier may encourage the bulls to extend the rally above the upper boundary of the channel which may locate the resistance level of 3200 SAT and above. On the contrary, any bearish close below the lower boundary of the channel could reverse the Solana price direction toward the daily support at 2000 SAT.

However, any further bearish movement could take the coin to the support of 1800 SAT and below. Meanwhile, there is a possibility that SOL/BTC may continue the bullish trend as the 9-day MA remains above the 21-day MA to indicate bullish movement.

Alternatives to Solana

The likelihood of Solana’s price concluding above the upper channel boundary is high if buyers intensify their pressure. Nevertheless, as the coin sustains its positive momentum, there is a possibility that the market price may encounter a resistance level of around $23 before securing further gains.

However, investors are urged to explore the possibilities offered by Bitcoin Minetrix, a cutting-edge token that successfully raised an astounding $6.6 million during its initial coin offering. As it rapidly sells out, it presents a notable contrast to Solana (SOL), a cryptocurrency ranked 5th in the market with a market cap of $45.8 billion which may not have much significance because of its big size.

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