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Solana Price Prediction for Today, January 8: SOL/USD Likely To Step Above $15

Solana Price Prediction for Today, January 8: SOL/USD Likely To Step Above $15
Solana Price Prediction for Today, January 8: SOL/USD Likely To Step Above $15

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The Solana price prediction is recovering from the daily low of $12.86 level as the price keeps ranging above the moving averages.

Solana Prediction Statistics Data:

  • Solana price now – $12.96
  • Solana market cap – $4.7 billion
  • Solana circulating supply – 367.8 million
  • Solana total supply – 537.6 million
  • Solana Coinmarketcap ranking – #15

SOL/USD Market

Key Levels:

Resistance levels: $25, $27, $29

Support levels: $5, $3, $1

Solana Price Prediction for Today, January 8: SOL/USD Likely To Step Above $15
SOLUSD – Daily Chart

SOL/USD is trading above the 9-day and 21-day moving averages after touching the daily low at $12.86. At the time of writing, the Solana price is changing hands at $13.73, having gained over 4.81% since the beginning of the European session. However, with latest the recovery, the digital asset is likely to cross above the upper boundary of the channel to hit the nearest resistance level at $15.

Solana Price Prediction: Can SOL Break Above $15?

The Solana price is currently above the 9-day and 21-day moving averages as the coin gets ready for the upside. However, if the bulls begin the upward trend, SOL/USD may likely cross above the channel which could touch the resistance levels of $25, $27, and $29. On the other hand, if the Solana price slides below the moving averages, any strong selling pressure could drag the price toward the lower boundary of the channel.

However, if the bulls failed to push the market price above the channel, a bearish continuation could bring it to the support levels of $5, $3, and $1 respectively. Meanwhile, the technical indicator Relative Strength Index (14) is seen crossing above the 60-level, indicating a possible bullish movement.

Against Bitcoin, the SOL bulls are now showing little commitment to the market movement. However, following the recent positive sign, the current market movement could follow an uptrend if the buyers push the price above the upper boundary of the channel.

SOLBTC – Daily Chart

Therefore, as the technical indicator Relative Strength Index (14) crosses above the 60-level, the market price could resume an upward trend which could touch the resistance level of 1500 SAT and above. Meanwhile, a retest below the 9-day and 21-day moving averages could lower the price to the support level of 350 SAT and below.

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