• Solana price prediction is on the rise, with the price now trading above the 9-day and 21-day moving averages.
• Solana could break above the $15 resistance level if the bulls maintain their current momentum.
• If the price fails to push above the $15 resistance level, it could fall towards the lower boundary of the channel.
The Solana price prediction is on the rise, with the digital asset currently trading above both the 9-day and 21-day moving averages. The Solana coin has been trading in a range above the moving averages since it touched the daily low of $12.86 earlier in the session. The market price is now changing hands at $13.73, having gained over 4.81% since the beginning of the European session.
Looking at the daily chart, the Solana price has been trading in a channel since the beginning of the year. The coin is presently above the channel, and if the bulls maintain their current momentum, the digital asset may likely break above the resistance level at $15. If the bulls can break above the $15 level, it could strengthen the bullish momentum and could touch the resistance levels of $25, $27, and $29.
On the other hand, if the Solana price slides below the moving averages, it could be a sign of a bearish trend. This could lead to a strong selling pressure that could drag the price towards the lower boundary of the channel. However, if the bulls failed to push the market price above the resistance level, the digital asset may likely remain in its current range.
It is important to note that the market sentiment is positive and the technical indicators are pointing to the upside. The Relative Strength Index (RSI) is above the 50 level, indicating that the buyers are in control of the market. If the bulls can keep the momentum, the Solana price could break the resistance level and reach new highs in the coming days.