Solana (SOLUSD) Price Forecast: September 13
The SOLUSD price remains on the negative side at the moment. The pair could see another bullish rally soon and the price recovery might hit the $35.00 high mark if the bulls should push harder and exchange hands with the bears at the $17.37 current support, the price may likely reverse in a bullish direction, and may perhaps retest the previous high of $32.40 which might expose the crypto price to the $35.00 upper high level and beyond.
Key Levels:
Resistance Levels: $26.00, $27.00, $28.00
Support Levels: $18.00, $17.00, $16.00
SOL (USD) Long-term Trend: Bearish (Daily Chart)
The SOLUSD market is having a bearish posture in its long-term outlook as can be seen from the chart above. This is due to the high inflows of sellers which is about to end soon and the next price recovery might hit the $35.00 resistance level soon.
The sustained pressure from the bears at the $17.80 support level during yesterday’s session has contributed to its bearishness in its recent low.
Today, the bears however made a drop to a $17.37 support level below the moving averages; this is an indication of a bearish momentum in the context of the strength of the coin. Sellers are actually dictating the market conditions at the present.
Hence, should the bulls put additional effort into their buying motives; the price of Solana could turn positive to retest the previous high of $32.40 value which would put the coin price more on the buy side.
Additionally, SOLUSD is likely going to reverse and face the upsides as the market is now trading in the oversold region around the 13% range of the daily stochastic; it means that the selling pressure will end soon.
This will compel the buy traders to resume an uptrend and the price recovery is likely to hit the $35.00 upper resistance level in the days ahead in its higher time frame. Hence, buyers need to wait for this action to take place before placing an order.
SOL (USD) Medium-term Trend: Bearish (4H Chart)
According to the chart below, the medium-term outlook for the Solana market is in a bearish trend zone. The bears have benefited from the recent market structure.
However, this is about to end as the bulls have just begun their rising pattern and the price recovery could hit the $35.00 supply level soon.
The crypto rebounded from the $17.37 support with a bullish candle at the $17.82 supply value below the moving averages as the 4-hour chart opens today. This indicates a genuine reversal which may attempt the $25.19 breakout.
Notably, the SOLUSD market is now pointing up on the daily stochastic, this implies that the selling pressure is exhausted and the buy traders may continue with the uptrend.
If this is achieved by the long-term investors, the price recovery rally may hit the $35.00 upper high value in the coming days in its medium-term perspective.
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