Solana (SOL) has recently traded steadily, maintaining below $20.5.

Long-term forecast: Tending towards bearish

Since September 5, Solana has faced resistance at $20.5 and pressure from support at $19 on September 21. The current price is between moving averages, but the $19 support remains stable. When the moving average is broken, the cryptocurrency price will change. The current support is in the oversold market area, and we expect buyers to emerge in the oversold area and push the price higher. If buyers can keep the price above the 50-day moving average, Solana will resume its upward trend.

Solana price indicator analysis:

Solana's relative strength index (RSI) has entered a downward trend, at 47, indicating that the cryptocurrency may have risen too quickly or too high, and the market may experience a pullback or decline. As this cryptocurrency trades between moving averages, it will be forced to remain within the trading range as long as it remains in the bearish trend zone. The cryptocurrency has already traded in the oversold area of the market and is below the 20 value of the daily stochastic indicator.

Technical indicators:

Key supply zones: $20, $25, $30

Key demand zones: $10, $5, $1

Future trend of Solana:

Solana is currently trapped between moving averages and trading above the $19 support. If the bear market breaks the $19 support or the 21-day moving average, the cryptocurrency will face downside risk. Meanwhile, due to trading between moving averages, the price movement is restricted.

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