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

The Solana price prediction is recovering from the daily low of $57.78 level as the price keeps ranging above the moving averages.

Solana Prediction Statistics Data:

• Solana price now – $60.75
• Solana market cap – $25.1 billion
• Solana circulating supply – 423.5 million
• Solana total supply – 536.6 million
• Solana CoinMarketCap ranking – #6

SOL/USD Market

Key Levels:

Resistance levels: $80, $85, $90

Support levels: $40, $35, $30

SOL/USD is trading above the 9-day and 21-day moving averages after touching the daily low at $57.78. At the time of writing, the Solana price is changing hands at $60.75, having gained over 4.35% 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 $65.

Solana Price Prediction: Can SOL Break Above to the Upside?

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 $80, $85, and $90. 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 $40, $35, and $30 respectively. Meanwhile, the 9-day MA is likely to cross below the 21-day MA, indicating a possible bearish movement.

SOL/BTC Could Head to the North

Against Bitcoin, the Solana 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.

However, if the 9-day MA crosses above the 21-day MA, the market price could resume an upward trend which could touch the resistance level of 2000 SAT and above. Meanwhile, a retest below the lower boundary of the channel could lower the price to the support level of 1100 SAT and below.

Solana Alternatives

The Solana price is seen trading above the 9-day and 21-day moving averages but gained by 4.35% during the negotiation today. Looking at the daily chart, the Solana (SOL) is likely to touch the nearest resistance level of $65 if the bulls increase the pressure. However, bulls are dominating the market with a push to the upside, which may head toward the upper boundary of the channel.

However, investors are urged to explore the prospects of Bitcoin Minetrix, a novel token that has successfully amassed over $4.5 million in its initial coin offering. The token is signaling a rapid sellout at the moment. This marks a significant contrast to the Solana (SOL) which ranks 6th in the crypto market, as $BTCMTX emerges as the new and promising contender in the market.