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Solana (SOLUSD) Price May Hit the $27.12 High Level Soon

Johnathon Fox
07/15/2023 | UPDATED ON: 07/15/2023

Solana (SOLUSD) Price Forecast: July 15
The SOLUSD price is positive today and may hit the $27.12 high level soon as the bulls take their stand to push the coin price upwards. In case the bulls should defend the selling pressure at the $21.74 low level, an increase in the bulls’ momentum may break up the resistance level of $27.12 and this may increase the coin price to the $30.00 upper high trend line and beyond.

Key Levels:
Resistance Levels: $22.00, $23.00, $24.00
Support Levels: $14.00, $13.00, $12.00
Solana (SOLUSD) Price May Hit the $27.12 High Level Soon
SOL (USD) Long-term Trend: Bullish (Daily Chart)
The SOLUSD remains bullish on the higher time frame. This is clear as we can see the prices trading above the two EMAs.

The bulls’ activity at the $22.37 supply level in the past few days has made the coin price remain strong above the supply trend line in its recent high.

A rise to a $22.58 high level by the bulls shortly after the commencement of the daily chart today affirms the high impact of the long traders in the market. Thus, the price of Solana is set to advance further if the bulls can redouble their efforts and push above the current supply level.

Similarly, the SOLUSD price now indicates an uptrend on the daily signal; this suggests that the buying pressure has just begun. Thus, the forthcoming bullish rally may hit the $27.12 high level and extend to the $30.00 upper resistance trend line in the days ahead in its higher time frame.

SOL (USD) Medium-term Trend: Bullish (4H Chart)
Despite the interference of short-term traders in the price flow, the medium-term time frame market shows a bullish race.
Solana (SOLUSD) Price May Hit the $27.12 High Level Soon
Pressure from the bulls at the $22.13 high value in the previous action has sustained its upward stability in its recent high.

Today, the bulls are trying hard to remain above the $ supply mark, so the coin price can pull back at the current support of $22.21 to invalidate the bearish theory.

Having said that, if the bulls could add extra effort to their buying actions in the market and the bullish momentum persists, a breakout above the $22.48 combined resistance with candle closing might further extend the coin price to hit the $27.12 high level which will signal a strong buy signal for interested traders in its medium-term outlook.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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