Solana Price Analysis – October 25
The Solana price stays above the 9-day moving average but the recovery could be extended above the resistance level of $220.
Resistance levels: $240, $250, $260
Support levels: $170, $160, $150
SOL/USD is currently hovering above the 9-day moving average. The technical indicator Relative Strength Index (14), for instance, is currently moving into the overbought region. The buyers seem to be gaining traction due to enough trading volume that is needed to sustain gains to $215. Meanwhile, the more the price delays the spike above $220, the stronger the sellers become.
Solana Price Analysis: Solana Breakout Seems Sustainable
The technical indicator for the Solana price may continue the bullish session in the next few trading days. It is, however, not clear how long the session will last because, since the beginning of this month, the bullish sessions have been frequent. Therefore, it is important to watch the resistance levels coupled with the movement of both technical indicators RSI (14) and the Moving Averages.
On the downside, a bearish movement below the 9-day and 21-day moving averages may bring back the short-term selling pressure while the next supports may come at a psychological $170, $160, and $150. Meanwhile, any further bullish movements across the 21-day moving average may hit the next resistance at $240, $250, and $260 levels
SOL/BTC Market: Solana Bulls Are Getting Ready
By comparing with Bitcoin, the SOL price is hovering above the 9-day and 21-day moving averages, currently trading at 33931 SAT. However, looking at the daily chart, if SOL/BTC makes a clear cross towards the upper boundary of the channel, traders can now say the bulls have come back fully into the market.
Meanwhile, if the market drops below the 9-day and 21-day moving averages, the next key supports could be at 2600 SAT and below. On the bullish side, an additional bullish trend could push the market price to the resistance level of 4000 SAT and above. Similarly, the daily Relative Strength Index (14) reveals that the market may continue the uptrend if the signal line remains above 60-level.