Solana (SOLUSD) Price Forecast: October 12
SOLUSD buyers have just begun its bullish action and it is very likely to increase in strength as we are seeing a bullish correction in place in both outlooks. The coin gave a bullish breakout from the $22.45 level, suggesting the buy investors are making a recovery attempt. Thus, if the crypto’s price moves speedily and sustains above the $32.40 high level, the potential rally could surge higher to hit the $32.50 upper resistance value and beyond.
Key Levels:
Resistance Levels: $23.00, $24.00, $25.00
Support Levels: $19.00, $18.00, $17.00
SOL (USD) Long-term Trend: Bearish (Daily Chart)
The SOLUSD pair indicates a downward trend with a bearish sentiment in its long-term perspective. The coin price can be seen below the EMA-50 which indicates a bearish trend zone. Hence, the pair is about to increase further as the bulls have just begun their bullish action to invalidate the bearish forces.
The bears’ activity at the $21.61 support level during yesterday’s session has made the coin price remain below the supply trend line in its recent price level.
This was overridden by the long traders today as the price of Solana found a new resistance at the $22.45 value. If buyers could push harder and move the price of SOLUSD above the $32.40 resistance value, further selling pressure will be hibernated.
Moreover, further upside is likely as the market now points up on the daily stochastic. This will cause the bulls to increase the bullish action and in this case, the price of Solana could reach a $32.50 high mark soon in its higher time frame.
SOL (USD) Medium-term Trend: Bearish (4H Chart)
Solana’s price is in a bearish market in its medium-term outlook. The pair is currently below the EMA-50, which suggests a bearish momentum. Further, the coin has just begun its bullish action to wade off the bearish shackles. 
The involvement of the bears to a $22.10 low value has dropped the coin price below the supply trend level in its recent high.
Hence, the current pullback at the $22.22 resistance mark suggests the return of the buy investors to dominate the market. This indicates that bulls are gradually gaining access to the market at present and may likely take over sooner. Thus, a break above the $24.80 supply mark would intensify the buying pressure on the crypto.
Notably, the momentum indicator also signaled up indicating an uptrend. Buyers are expected to continue with the trend and in this case, the price might possibly reach the $32.50 resistance value soon in its medium-term perspective.
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