- The most recent Solana price analysis activity is bearish.
- Bears have taken the price levels down to $139.23.
- Further slippage is to be expected in the future as well.
The Solana price analysis is indicating a decline in price in the last hour. The price levels have moved down to meet the $139 level, which is a relatively positive indication for the sellers to approach the market. Furthermore, there have been ongoing variations that have lasted for a while, and the bears have finally secured their lead once again.
The bears are inclined towards taking the price further below the current price value, to keep maintaining their bearish slide that has been continuing for the past few hours. The bears have played swiftly as they have dodged past the bullish momentum that had interrupted their streak.
SOL/USD 1-day price chart: Bulls succeed in diverting ongoing trend
The 1-day price chart showing cryptocurrency analysis is going in the favor of the bulls once again, as they have regained their momentum after facing loss.
The price value has gone through a major improvement as today it has reached the value at $139.22. This is really encouraging for the buyers who are intending to control the market and enhance the cryptocurrency value even further.
Meanwhile, if we talk about the moving average value in the 1-day chart, then it is found resting at $119.2 level. The volatility is increasing at a massive scale, which is not a positive indication for the future of cryptocurrency.
Moreover, the SMA 20 curve is far above the SMA 50 curve which can be taken as a bullish sign as well. As the short-term trending line is going upwards, it’s time for the sellers to sell as many assets, because the Solana price value is at its peak.
The Bollinger bands indicators also hold vital importance in informing us about the current market trends, and its upper band is showing the value at $146.22 while its lower band is showing $43.
The Bollinger bands average is set at $94.44, as with their expansion the volatility is increasing as well. The Relative Strength Index (RSI) score has also followed a massive jump, as it has reached above the overbought mark and is fixed at 82.12.
Solana price analysis: 4-hours price chart shows bearish activity as price levels shrink further
The 4-hours Solana price analysis is indicating that the bearish momentum has resulted in a momentary decline in the price value. The price has dropped to $139.29, after overcoming the resistance coming from the bullish side.
The bearish momentum is to intensify in the upcoming hours, as the moving average (MA) is also at a greater height as compared to the current price i.e. $141. Also, the Bollinger bands values in the 4-hours price chart are as follows; the upper Bollinger band is at $154, whereas the lower Bollinger band is at $121.3, respectively.
The volatility is gradually decreasing which means that the future holds encouraging news for cryptocurrency. The RSI score has faced decline as well because of the ongoing bearish trend and has lowered to 60.51.
Solana price analysis conclusion
The past week has seen a building pressure from the bullish side which had resulted in an increase in Solana price value. Yet, today the bears have been able to rise once again to prevent the bearish streak from breaking.
The price levels have lowered to $139.2, as more sellers have entered the market as compared to the buyers. If the bulls are able to find a chance of improving the price values, then there is a possibility that the price will continue its journey to cross $154.4 resistance.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.