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Solana (SOLUSD) Price Looks Good to Buy at the $174.00 Resistance Value

Johnathon Fox
10/25/2024 | UPDATED ON: 10/25/2024

Solana (SOLUSD) Price Forecast: October 25
SOLUSD is edging closely to the upper channel and looks good to buy at the $174.00 resistance level, driven by a strong market performance by the coin buyers. According to the view, if the bulls continue to rise and close above the $188.41 high, a bullish breakout confirmation will show that the market attitude has strengthened, leading to the coin price reaching the upper supply trend target of $200.00, indicating a significant upward trend.

Key Levels:
Resistance Levels: $173.00, $174.00, $175.00
Support Levels: $127.00, $126.00, $125.00

SOL (USD) Long-term Trend: Bullish (Daily Chart)

The bulls’ performance has increased the SOLUSD price, which looks good to buy at the $174.00 current supply in the long term. The market is facing upper resistance above the supply level, indicating bullish momentum.
Solana (SOLUSD) Price Looks Good to Buy at the $174.00 Resistance Value
The coin has been making a series of highs and lows in the past few days, sustaining the price to keep rising. It looks good to buy at its recent high.

The Solana price on the daily chart today is at a $174.00 high level above the EMA-50, which looks good to buy and reclaims more confirmation for a bullish recovery. Hence, staying above the EMA-50 indicates a strong possibility for a bullish correction.

Thus, an additional push above the $188.41 resistance point would strengthen the bullish pressure and also make the coin look good to buy more.

Furthermore, the SOLUSD pair may continue its uptick rally as indicated by the daily indicator pointing up, suggesting that the price will continue to look good to buy. As a result, in the long run, the price of Solana could pump or surge higher to hit the $200.00 resistance level as the coin looks good to buy for the coin buyers in its higher time frame.

SOL (USD) Medium-term Trend: Bullish (4H Chart)

Solana’s price is in a bullish market and also looks good to buy at the moment. Further, the coin is trading strongly above the moving average of 50, suggesting a bullish rally.
Solana (SOLUSD) Price Looks Good to Buy at the $174.00 Resistance Value
The bulls’ activity to a high of $167.00 level in the previous action has enabled the crypto price to look good to buy and remain above the supply levels in its recent high.

At the press time, the bulls hit the resistance level of $174.00 above the EMA-50 as the 4-hourly chart resumes today. However, the buy traders could not relent, as they aimed to drag the price to a significant level.

However, the bullish correction at the mentioned resistance level indicates that the Solana price looks good to buy. Meanwhile, if more strength is added to the buying pressure, the coin price will increase further to reach the $200.00 upper resistance target, as it looks good to buy in its medium-term forecast.

Buy Solana on Longhornfx

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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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