Bitcoin
$ 29,729.00 1.26%
Ethereum
$ 1,939.67 3.58%
Solana
$ 48.00 4.06%
Dogecoin
$ 0.082781 1.44%
ApeCoin
$ 7.28 4.11%
STEPN
$ 1.38 2.74%
Terra
$ 0.000168 3.39%

Solana Price Analysis: SOL/USD bearish for the next 24 hours

Solana price analysis

TL;DR Breakdown

  • Solana price analysis is bearish today.
  • The strongest resistance is present at $121
  • Solana trading price is $82.8 as of writing time

The Solana price analysis reveals that the market may be stabilizing, with growth potential. The bulls haven’t just sat on their hands; they’ve made preparations for Solana, which will soon come into force. However, the bears have not given up and appear to dominate the market; albeit becoming weary and weary, they nevertheless appear to have spirit in them and will fight until the end for their control.

The Solana price analysis is bearish today. The strongest resistance is present at $121, followed by the $110 and $100 marks. The support levels are at $80 and $70. The trading price is $82.8 as of writing time.

The market appears to be stabilizing, with growth potential. The bulls haven’t just sat on their hands; they’ve made preparations for Solana, which will soon come into force. However, the bears have not given up and appear to dominate the market; albeit becoming weary and weary, they nevertheless appear to have spirit in them and will fight until the end for their control.

SOL/USD 4-hour price analysis: Recent developments

The price of SOL (Solana) against the USD on Bittrex has been in a downtrend since it reached a high of $121 on June 10th. It has since dropped to as low as $73.8 on the 18th, with a current price of $82.8. The RSI is at 30, indicative of a strong bearish trend.

There is significant resistance at $121, followed by $110 and $100. The support levels are at $80 and $70.

Solana Price Analysis: SOL/USD bearish for the next 24 hours 1
SOL/USD 1-day price chart source: TradingView

The one-day price chart for SOL/USD on TradingView shows that the downtrend began on June 10th, when the price reached a high of $121. It has since dropped to as low as $73.8 on the 18th, with a current price of $82.8. The RSI is at 30, indicative of a strong bearish trend.

The market appears to be stabilizing, with growth potential. The bulls haven’t just sat on their hands; they’ve made preparations for Solana, which will soon come into force. However, the bears have not given up and appear to dominate the market; albeit becoming weary and weary, they nevertheless appear to have spirit in them and will fight until the end for their control.

The market is currently dominated by bears, who have not shown any giving up. However, the bulls are making preparations for Solana, which may cause a shift in the power dynamics. If the bulls can take back control, we may see a reversal in the current downtrend and a price increase. However, it is also possible that the bears will continue to dominate, and the price will drop even further. In any case, it is important to keep an eye on the market and be ready to take action when necessary.

The Solana price analysis is bearish today. The strongest resistance is present at $121, followed by the $110 and $100 marks. The support levels are at $80 and $70. The trading price is $82.8 as of writing time.

The market appears to be stabilizing, with growth potential. The bulls haven’t just sat on their hands; they’ve made preparations for Solana, which will soon come into force. However, the bears have not given up and appear to dominate the market; albeit becoming weary and weary, they nevertheless appear to have spirit in them and will fight until the end for their control.

The RSI has moved from oversold conditions to around 50, signifying a change in momentum from bearish to bullish. MACD is slowly converging, and Signal Line looks ready to cross above Zero soon, giving a buy signal.

Solana price analysis for 24-hours: SOL market opens

On the 1-day chart, we can see that bulls have taken control of the market and pushed prices up past the $90 resistance level. A new resistance has been established at $110. The market is currently in a sideways movement with a bullish bias as it awaits major news from the Solana team.

Solana Price Analysis: SOL/USD bearish for the next 24 hours 2
SOL/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) score indicates that the cryptocurrency’s value has decreased to 34. It is undervalued. However, the RSI score takes a somewhat downward route and enters into even greater undervaluation. The drop in the RSI index suggests strong selling activity, which outweighs buying activity.

Solana Price Analysis: Conclusion

The market appears to have stalled in its downward trajectory, with a possibility of a reversal if the bulls can break past the current resistance levels. However, it is still too early to tell, and the bears could regain control at any time.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

Related News

Hot Stories

Here's why attorney Jeremy Hogan believes Ripple lawsuit is nearing 'endgame'
Mastercard backs crypto despite market decline
Terra (LUNA) Rebounded over 1000% in A Day? — Can Investors Expect Any Ray of Hope?
XRP Price Prediction 2022-2030 [After Lawsuit]
The Sandbox Price Prediction 2022-2030: HODL or DUMP?

Follow Us

Industry News

Singapore VC firm gets a $100 million metaverse and Web3 fund
Andreessen Horowitz raises $4.5 billion to back crypto firms
Babel Finance hits a $2b valuation with $80m in funding
The UpLift DAO team joined a closed VIP Discussion with Dr Gavin Wood on what it takes to Build a Better Web3
Mastercard backs crypto despite market decline