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Solana (SOLUSD) Price Reaches Its Buying Time

Johnathon Fox
07/20/2024 | UPDATED ON: 07/20/2024

Solana (SOLUSD) Price Forecast: July 20
Today, the SOLUSD price reaches its buying time while facing buying pressure from the bulls. If the coin prices sustain above the level of $204.12 high value, the bulls’ trend would continue upward and possibly hit $205.00 the upper high level, renewing the investors’ strength on the asset.

Key Levels:
Resistance Levels: $166.00, $167.00, $168.00
Support Levels: $121.00, $120.00, $119.00

SOL (USD) Long-term Trend: Bullish (Daily Chart)
Today, SOLUSD takes a nice turn as it reaches its buying time. The price is moving in a bullish trend on a longer time horizon. This is a buy signal and appears good for the long traders.
Solana (SOLUSD) Price Reaches Its Buying Time
The coin has been having a series of higher highs and higher lows from the past session, making it possible for the coin price, to reach a buying time and retain the strength in its recent high.

However, the crypto price reached its buying time today at the $165.57 high level above the resistance value, signaling a potential buy signal for the coin traders.

Thus, if Solana’s price could sustain above the $204.12 high level, the potential rally could surge higher to hit the $205.00 upper high level, indicating bullish sentiment among investors.

Additionally, the momentum indicator pointing upwards suggests the continuation of the bullish trend. In light of this, the price of Solana may reach the $205.00 supply value as soon as it reaches its buying time in its long-term outlook.

SOL (USD) Medium-term Trend: Bullish (4H Chart)
On the 4-hour chart, the prices of Solana are above the moving averages, confirming its buying time as it remains bullish above the moving average, breaking the previous high. The pair is in a smooth uptrend, as seen from the chart below.
Solana (SOLUSD) Price Reaches Its Buying Time
The high bullish impact on the crypto at the $160.35 high level in the previous action has enabled it to reach its buying time and retain its bullishness in its recent high.

SOLUSD is losing bearish momentum as it rises to a $165.57 high level above the moving averages as the 4-hourly chart begins today. This is due to a high bullish impact on the market price.

Therefore, if the bulls could increase their tension in the market, the price tendency may reach a high of $163.84, providing suitable support for buyers to regain higher recovery.

However, the SOLUSD pair could grow further and may remain in its bullish zone, as shown by the daily signal pointing upwards. Hence, If the buy traders could break up the $163.84 previous high level, the price of SOLUSD may reach the high of $205.00 resistance level, maintaining a further growth potential for the buy traders.

Buy Solana on Longhorn

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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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