Solana Price Prediction for Today, January 9 – SOL Technical Analysis

Solana price prediction calls for a quick upward move above both the 9-day and 21-day moving averages to fend off bearish pressure in the market.

Solana price statistical data:

• Current Solana price – $100.57
• Solana market cap – $42.9 billion
• Solana Circulation Volume – 431.9 million
• Solana total supply – 566.7 million
• Solana CoinMarketCap Ranking – 5th

SOL/USD market

Main level:

Resistance levels: $135.0, $145.0, $155.0

Support levels: $65.0, $55.0, $45.0

SOL/USD is currently trading above $97.0, indicating potential bullish momentum going forward. This upward move resisted market selling pressure and allowed Solana (SOL) to break above the 9-day and 21-day moving averages. Nonetheless, if the bulls fail to stay above $105.0 and the 9-day moving average stays below the 21-day moving average, traders could witness a shift to bearish momentum.

Solana Price Prediction: Solana (SOL) Could Continue Rising

Solana price is poised to rise further above the 9-day and 21-day moving averages, but the bearish trend may prevent such a breakout. In case the sellers apply downward pressure, a strong support level awaits at $90.0, followed by the $70.0 support level. However, deeper bearish momentum could test additional support zones at $65.0, $55.0, and $45.0.

Conversely, if buyers maintain the bullish momentum, the initial resistance level is $120.0. A continued upward trajectory may encounter resistance at potential $135.0, $145.0, and $155.0 levels. However, a crossover where the 9-day moving average falls below the 21-day moving average could indicate a downward movement in the Solana price.

SOL/BTC Could Head South

Solana price versus Bitcoin is currently trading below the 9-day moving average and below the 21-day moving average. However, the pair is valued at 2178 SAT and looks set to surpass its moving average. Conversely, if the price falls below the lower channel limit, there may be significant support below 1300 SAT.

Meanwhile, continued bullish momentum could push the market towards the upper boundary of the channel. A breakout above this threshold could pave the way for the coin to target resistance levels above 3000 SAT. However, this upward trajectory further marks a potential bullish intersection. This means that the 9-day MA is likely to cross the 21-day MA, indicating the potential for continued bullish activity in the market.

Solana Alternatives

According to the daily chart, Solana price is moving close to the $110 resistance level as the coin prepares to generate further gains. Meanwhile, the bulls may need to increase the pressure as the 9-day moving average may cross bullishly above the 21-day moving average, giving the market a buy signal.

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