Solana Price Surges 4.81%: Bulls Aim for Resistance Levels of $25, $27, $29

•Solana (SOL/USD) is trading above the 9-day and 21-day moving averages and is currently changing hands at $13.73.
•The current price of Solana is expected to cross above the upper boundary of the channel and reach the nearest resistance level of $15.
•If the bulls begin the upward trend, SOL/USD may likely cross above the channel and reach the resistance levels of $25, $27, and $29.

The current price of Solana (SOL/USD) is recovering from the daily low of $12.86 level as the price keeps ranging above the moving averages. At the time of writing, the Solana price is changing hands at $13.73, having gained over 4.81% since the beginning of the European session. The 9-day and 21-day moving averages are currently below the price level, indicating that the bulls are in control of the market.

Analysts predict that if the bulls begin the upward trend, SOL/USD may likely cross above the channel which could touch the resistance levels of $25, $27, and $29. On the other hand, if the Solana price slides below the moving averages, any strong selling pressure could drag the price toward the lower boundary of the channel. In addition, the Solana market cap is currently at $4.7 billion and the circulating supply is 367.8 million.

In order to continue the current bullish trend, it is important for the bulls to maintain the momentum above the 9-day and 21-day moving averages. If the bulls are able to defend the current support level of $12.86, the digital asset is likely to cross above the upper boundary of the channel and reach the nearest resistance level of $15. On the other hand, if the digital asset fails to hold above the support level, the SOL/USD pair may likely encounter further losses.

Overall, the Solana price prediction is bullish and the coin is expected to continue its current bullish trend in the upcoming days. However, investors and traders should exercise caution and monitor the market for any signs of reversal.