Solana Price Analysis – October 2
The Solana price is seen rising with a soaring momentum as the coin keeps moving above the expected level.
Resistance levels: $200, $220, $240
Support levels: $130, $110, $90
SOL/USD is indicating an uptrend in the market, hovering above the 9-day and 21-day moving averages within the channel. In the past few days, we have seen SOL moving at a high speed in the market. However, recently, the market is projecting a volatile movement where Solana could face more bullish movements.
Solana Price Analysis: SOL Price Aims Higher
According to the daily chart, the Solana price keeps hovering above the 9-day and 21-day moving averages. However, any fallback-formation below the 9-day and 21-day moving averages may bring the price to the support levels of $130, $110, and $90 after breaking below minor support at $150.
Moreover, considering a continuous upward trend for this crypto, SOL/USD could once surge towards the upper boundary of the channel to hit the resistance levels of $200, $220, and $240 in the long-term bullish. Therefore, the technical indicator Relative Strength Index (14) is looking bullish at the moment as the signal line prepares to cross above 65-level.
SOL/BTC Market: Solana Price Sets for Upward Movement
When compares with Bitcoin, the Solana (SOL) is seen trading above the 9-day and 21-day moving averages within the ascending channel where the price is expected to reach the upper boundary of the channel. However, should the price succeeds, then, it may continue an upward trend which could touch the potential resistance level of 4500 SAT and above.
On the contrary, if the SOL price crosses below the 9-day and 21-day moving averages, the coin is expected to touch the support at 2500 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) confirms that the market may focus on the north to start giving more bullish signals as the signal line moves above 60-level.