- Solana price analysis shows a downtrend today.
- Solana is up by 35% in the last 7 days.
- Solana has sought support at $12.62 and is now trading around $15.97.
ការវិភាគតម្លៃសូឡាណា indicates SOL has emerged as the top gainer among the Altcoins during the last few days as the altcoin has gained more than 35% in the last week. This comes after a mini-rally that has been cut short by today’s bearish action in the market. The SOL/USD pair has been trading within a tight range of $15.71 and $16.00 over the past few days, with resistance around the $17.00 level.
Solana seems to be rebounding off the support at $12.62 and is now trading around $15.97 as of writing. The technical indicators show that bulls may continue to push the price higher with a break above the resistance level at $17.00 is a key milestone for further bullish momentum in SOL/USD pair.
Looking ahead, investors should closely watch the price movements of SOL/USD as it could spark a new rally if the pair breaks above $17.00. However, traders should also be aware of any potential corrections in the coin’s price as any further bearish action could drag the price back to its previous support levels.
Solana’s price is still above the 50-day Moving Average and the Relative Strength Index (RSI) is also showing signs of recovery at 56.21 after a brief dip to 50. The MACD also remains bullish, indicating that there may be more upside potential for SOL/USD pair in the near future. The Chaikin Money Flow (CMF) has also moved into bullish territory, suggesting that capital is flowing back into the market. Increasing buying pressure could lead to a rise in the coin’s price in the near future.
Solana price analysis on the 4-hour chart is painting a bullish breakout with the coin breaking out of a symmetrical triangle pattern. This could indicate that Solana will remain in an uptrend for the foreseeable future, with a potential target at $20.00 if bulls maintain their momentum.
The market volatility is currently high as indicated by the Bollinger Bands which are wide than usual. This could mean that the coin may make some big moves in either direction in the near future.
The price of SOL is on track to break out of key resistance levels as long as bulls continue to drive the price higher. In case of a bearish continuation, the Fibonacci retracement tool suggests that the coin’s price could find support at $13.50 and $11.30 which represents the 23.6% and 38.2% retracement levels, respectively.
ការមិនទទួលខុសត្រូវ៖ ទស្សនៈ និងមតិ ក៏ដូចជាព័ត៌មានទាំងអស់ដែលបានចែករំលែកនៅក្នុងការវិភាគតម្លៃនេះត្រូវបានបោះពុម្ពផ្សាយដោយស្មោះត្រង់។ អ្នកអានត្រូវតែធ្វើការស្រាវជ្រាវដោយខ្លួនឯង និងឧស្សាហ៍ព្យាយាម។ សកម្មភាពណាមួយដែលធ្វើឡើងដោយអ្នកអាន គឺស្ថិតក្នុងហានិភ័យផ្ទាល់ខ្លួន។ Coin Edition និងសាខារបស់វានឹងមិនទទួលខុសត្រូវចំពោះការខូចខាត ឬការបាត់បង់ដោយផ្ទាល់ ឬដោយប្រយោល។
Source: https://coinedition.com/solana-pumps-by-more-than-35-before-todays-minor-correction/