Solana (SOLUSD) Price Forecast: November 11
Today, the SOLUSD is positive again and also shows formidable growth above the supply levels. The coin is trending upward and is still holding steady above the $43.00 supply level. If the coin price could sustain above the pattern supply trend line, the coin price may trigger up to the overhead resistance mark at the $48.00 level, indicating a clear buy signal.
Key Levels:
Resistance Levels: $44.00, $45.00, $46.00
Support Levels: $39.00, $38.00, $37.00
SOL (USD) Long-term Trend: Bullish (Daily Chart)
From the chart below we can be assured that SOLUSD‘s price shows a formidable growth above the supply levels in its long-term view. This is clear as we can see price continues to make higher highs and higher lows above the supply levels.
The sustained bullish pressure pushed the pair up to the $43.89 resistance level during yesterday’s session and sustained it; this has made it possible for the coin to remain strong above the supply levels in its recent high.
The current price of Solana at the $47.00 resistance level above the EMA-50 as the daily session opens today indicates an uptrend in the context of the strength of the market. This allows for a more bullish influence on the market.
The coin might jump towards the upper resistance level amid renewed buying momentum if the sell traders reduce their tension in the market.
Additionally, the market price of SOLUSD suggests a formidable growth on the daily stochastic by pointing up, as a result, the coin price could swing up to a $48.00 upper resistance level soon in its long-term perspective.
SOL (USD) Medium-term Trend: Bullish (4H Chart)
The market price of SOLUSD also shows a formidable growth above the supply mark in its medium-term outlook. This is due to the high inflows of the buy traders.
The bullish impact on the crypto to the $43.11 supply level during the previous action has sustained its firmness above the supply levels in recent times.
Today, the bulls made an upward move to the $47.00 high value above the moving average lines as the 4-hour chart opens. The coin price looks promising as the bulls remain dominant above the supply levels in the market at the moment.
If the bulls should increase their price action, and bullish momentum is sustained far above the current resistance trend lines, further bearish sentiment will be hibernated.
Additionally, the daily stochastic remains in an upward direction. Hence, if the coin buyers manage to break above the current supply trend line, the market participants may witness a new recovery rally and this may likely reach the $48.00 high mark soon in its medium-term perspective.
Buy Solana on eToro
Leave a Reply