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Solana Price Prediction for Today, May 14: SOL Maintains the $50 Resistance

Solana Price Prediction
Solana Price Prediction

The Solana price prediction is likely to follow the bullish movement as the coin hovers around the $50 resistance level.

SOL/USD Market

Key Levels:

Resistance levels: $80, $85, $90

Support levels: $15, $10, $5

Solana Price Prediction
SOLUSD – Daily Chart

Based on the current prediction, SOL/USD could hit $60 in the next positive step. According to the daily chart, Can we say that the difficult period is over for this crypto as it tries to create a new trend? The Solana price is currently trading at $50.86, although the coin touches the daily high of $53 resistance level after moving close to the 9-day moving average, it could probably retest $48 before it rises again.

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Solana Price Prediction: SOL/USD May Follow the Upward Movement

At the time of writing, the Solana price is beginning to follow the upward movement. A break above the $60 level could encourage more buyers to increase their entries, which could push the price to the resistance levels of $80, $85, and $90. On the downside, once the price breaks below the lower boundary of the channel, the sell-off could gain traction with the next focus below the $40, followed by the psychological $35 support.

Moreover, if the above mentioned-supports are broken, the downside pressure may increase while the next supports may be created at around $15, $10, and $5. The technical indicator Relative Strength Index (14) is likely to move away from the oversold region, indicating bullish signals.

SOL/BTC Market: Price Remains at the Downside

When compared with Bitcoin, the Solana price is still below the 9-day and 21-day moving averages. Meanwhile, a daily close above the resistance level of 1800 SAT could encourage the bulls to extend the rally towards 2200 SAT and above. In other words, a close below the lower boundary of the channel could reverse the Solana price direction towards the daily support at 1500 SAT.

SOLBTC – Daily Chart

However, any further bearish movement could take the coin to the support of 1300 SAT and below. Meanwhile, there is a possibility that SOL/USD may continue the bullish trend as the technical indicator Relative Strength Index (14) is likely to cross above the 30-level with the signal line facing up to indicate bullish movement.

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