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

Terra price analysis

TL;DR Breakdown

  • Solana price analysis is bearish today.
  • The strongest resistance is present at $101.
  • Solana trading price is $79 as of now

The Solana price analysis indicates a bearish trend. The bulls have been completely suppressed by the bears, resulting in a dynamic shift, and SOL expects another devaluation in the following days. On the other hand, the bulls seem to have fled and are weary and the bears are currently in control of the market. The $101 resistance level is still a critical point that could reverse the trend. If it’s breached, we could see SOL recovering to its previous levels of around $120.

SOL/USD 4-hour price analysis: Latest developments

The latest development in the SOL/USD 4-hour chart shows that the bears have taken control of the market. The support at $75 has been broken, and the price is currently testing the next support at $70. If this support is also breached, we can expect a further decline in the price to $60. On the other hand, if the bulls manage to defend the support at $70, we could see a reversal in the trend and a rise in the price to $85.

Solana price analysis: SOL loses value at $79 1SOL/USD 4-hour price chart source: TradingView

The 4-hour chart also shows that the moving average convergence/divergence (MACD) is in the bearish zone. The exponential moving average (EMA) has also crossed below the MACD line, indicating a further decline in the price.

On the other hand, the relative strength index (RSI) is currently at 36 and is showing no signs of a reversal.

SOL/USD daily price analysis: What to expect?

The daily chart shows that the price has been in a downtrend since February and is currently testing the support at $70. If this support is breached, we can expect a further decline in the price to $60. On the other hand, if the bulls manage to defend the support at $70, we could see a reversal in the trend and a rise in the price to $85.

SOL/USD daily price chart source: TradingView

The MACD is currently in the bearish zone and is showing no signs of a reversal. The EMA has

Solana price analysis for 24-hours: SOL starts to open

The latest development in the SOL/USD 4-hour price analysis shows that the bears have taken complete control of the market. The bulls have failed to defend support levels and the price has now dropped to $79. This is a key support level that needs to be defended in order for SOL to stage a comeback.

On the upside, the immediate resistance is present at $101. This is a key level that needs to be broken in order for the price to recover. However, the bears are likely to put up a fight and may push the price back down.

On the downside, support levels are seen at $79 and $74. These are key levels that need to be defended in order for the bulls to take control of the market.

The next few days will be crucial in determining the direction of the SOL/USD price analysis. It is important to keep an eye on the key resistance and support levels, as these could determine the future trend of SOL.

Solana price analysis: SOL loses value at $79 2

SOL/USD 1-day price chart source: TradingViewOL/USD 1-day price chart

The Solana price analysis for 24-hours shows that the market is currently in a bearish trend. The market has been completely dominated by the bears, resulting in a dynamic shift, and SOL is now anticipating another devaluation in the next few days.

The Solana price analysis for 24-hours shows that the market is currently in a bearish trend. The market has been completely dominated by the bears, resulting in a dynamic shift, and SOL is now anticipating another devaluation in the next few days.

Solana Price Analysis Conclusion

The Solana price forecast indicates bearish momentum with little room for bullish potential. The bulls may seize the throne if they can show their value; they could even take over the entire market. This is conceivable if the price breaks through support. Market factors will begin to favor the bulls,directional trading will likely take hold and move prices back into a more comfortable zone. The market is currently in a very precarious state, with not much sideways movement. This could lead to a bigger breakout soon.

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.

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