Solana Price Prediction for Today, December 10 – SOL Technical Analysis

The Solana price prediction shows that SOL heads toward the upper boundary of the channel as the coin touches the $72.86 level.

Solana Prediction Statistics Data:

• Solana price now – $73.1
• Solana market cap – $31.1 billion
• Solana circulating supply – 426 million
• Solana total supply – 564.3 million
• Solana CoinMarketCap ranking – #6

SOL/USD Market

Key Levels:

Resistance levels: $85, $90, $95

Support levels: $55, $50, $45

SOLUSD – Daily Chart

SOL/USD is at the moment trading at $70.66 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 $75, hovering above the 9-day and 21-day moving averages. The technical indicator shows that the coin could be facing the upside as the market price points up to indicate a buy signal.

Nevertheless, if buyers were able to keep the price above the moving averages, the Solana price may cross above the upper boundary of the channel to hit the potential resistance levels of $85, $90, and $95. But, if the coin slides and heads toward the lower boundary of the channel, it could hit the supports at $55, $50, and $45 respectively.

SOL/BTC Faces the Upside

Against Bitcoin, the Solana price is moving upward, and it could swing high toward the upper boundary of the channel to locate the resistance level of 2100 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 1200 SAT and below.

SOLBTC – Daily Chart

However, the 9-day moving average is likely to cross above the 21-day moving average to retain the bullish movement. Moreover, any further bullish movement to the upside may create additional gains for the coin.

Solana Alternatives

The current Solana price is positioned above both the 9-day and 21-day moving averages, registering a 4.25% gain in today’s trading session. Meanwhile, a closer examination of the daily chart suggests that Solana (SOL) has the potential to approach the immediate resistance at $75 if bullish momentum continues. However, the prevailing market sentiment is bullish, indicating an upward trend that might propel the price toward the upper boundary of the trading channel.

Encouragingly, investors are advised to delve into the potential of Bitcoin Minetrix, an innovative token that has impressively secured $5.1 million during its initial coin offering. Currently experiencing a swift sellout, this stands in stark contrast to Solana (SOL), a cryptocurrency ranking 6th in the market. $BTCMTX is now emerging as a fresh and promising contender in the competitive crypto landscape.