Solana Price Prediction for Today, July 7: SOL/USD Soars Above $20 Level

Updated: 03 June 2024

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The Solana price prediction shows that SOL moves to cross above the upper boundary of the channel as the coin touches the $20.99 level.

Solana Prediction Statistics Data:

Solana price now – $20.79
Solana market cap – $8.1 billion
Solana circulating supply – 401.3 million
Solana total supply – 551.7 million
Solana Coinmarketcap ranking – #9

SOL/USD Market

Key Levels:

Resistance levels: $25, $27, $29

Support levels: $15, $13, $11

Solana Price Prediction for Today, July 7: SOL/USD Soars Above $20 Level — SOLUSD – Daily Chart

SOL/USD is currently trading at $20.79 after touching the daily high of $20.99 and it is likely to cross above the upper boundary of the channel. However, if the buyers were able to keep the price above the 9-day and 21-day moving averages, the market price could rally toward the upside.

Solana Price Prediction: Solana (SOL) Could Create Additional Gains

According to the daily chart, the Solana price is moving close to the resistance level of $21 as the coin prepares to create an additional gain. The technical indicator Relative Strength Index (14) is also moving to cross into the overbought region with the signal line pointing up to indicate a buy signal.

Nevertheless, if the buyers were able to keep the price above the 9-day and 21-day moving averages, the Solana price may cross above the upper boundary of the channel to hit the potential resistance levels of $25, $27, and $29 while crossing below the moving averages may bring the coin to the supports at $15, $13, and $11 respectively.

Against Bitcoin, the Solana price is moving upward, and it could swing high to cross above the upper boundary of the channel which could locate the resistance level of 8000 SAT and above. On the other hand, if the market price slides below the 9-day and 21-day moving averages, it could reach the support level of 5300 SAT and below.

However, the technical indicator Relative Strength Index (14) is currently moving to cross above the 70-level as the signal line points to the north to confirm the bullish movement. Moreover, any further bullish movement toward the upside may create additional gains within the channel.

Alternatives to Solana

Since the past few days, the Solana price has remained relatively strong as the coin begins the journey to the upside gradually. However, if the coin crosses above the upper boundary of the channel, it could hit the resistance level of $22. Meanwhile, it is likely for SOL/USD to retreat a little before creating additional gains.

Nevertheless, the team behind Wall Street Memes is no stranger to the digital space, having successfully launched a popular NFT collection called “Wall St Bulls” in 2021. This collection sold all 10,000 pieces in just 32 minutes, raising a whopping $2.5 million for the creators. However, with Wall Street Memes’ presale in its final stages, interested investors can now buy $WSM tokens as almost $13m has been raised so far.

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