Solana Price Prediction for Today, May 7: SOL/USD Moves to Cross Above $23 Level

The Solana price prediction shows that SOL heads toward the upper boundary of the channel as the coin touches the $ 22.73 level.

Solana Prediction Statistics Data:

• Solana price now – $22.58
• Solana market cap – $8.9 billion
• Solana circulating supply – 394.7 million
• Solana total supply – 539.3 million
• Solana Coinmarketcap ranking – #10

SOL/USD Market

Key Levels:

Resistance levels: $28, $30, $32

Support levels: $18, $16, $14

SOL/USD is at the moment trading at $22.61 after touching the daily low of $21.80 and it is likely to head toward 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 Gets Ready for Upward Movement

The Solana price is moving close to the resistance level of $23, crossing above the 9-day and 21-day moving averages. The technical indicator Relative Strength Index (14) shows that the coin could be facing the upside as the signal line stays above the 50-level pointing up to indicate a buy signal.

Nevertheless, if 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 $28, $30, and $32. But, if the coin slides and heads toward the lower boundary of the channel, it could hit the supports at $18, $16, and $14 respectively.

Against Bitcoin, the Solana price is moving upward, and it could swing high to cross above the upper boundary of the channel to locate the resistance level of 900 SAT and above. On the other hand, if the market price slides toward the lower boundary of the channel, it could reach the support level of 650 SAT and below.

However, the technical indicator Relative Strength Index (14) is currently moving to cross above the 50-level as the signal line points to the north to confirm the bullish movement. Moreover, any further bullish movement to the upside may create additional gains for the coin.

Alternatives to Solana

The Solana price is likely to head toward the upper boundary of the channel as the coin begins a slight increase above the opening of today’s trading at $22. In the meantime, the Solana (SOL) may need to cross above the $23 resistance level before deciding on the next direction. Meanwhile, the AiDoge platform provides an AI-driven meme generation experience for users, adapting to the ever-changing crypto world. It employs advanced AI technology for creating relevant memes based on user-provided text prompts. The presale is ongoing and close to $4 million has been raised so far.