Ethereum
$ 1,226.58 1.48%
Solana
$ 40.44 2.35%
Dogecoin
$ 0.077112 12.13%
ApeCoin
$ 4.86 6.04%
Bitcoin
$ 21,353.00 0.44%
BNB
$ 239.42 0.12%

Solana price analysis: SOL loses value at $90.89

SOL

TL;DR Breakdown

  • Solana price analysis is bullish today.
  • The strongest resistance is present at $99.
  • Solana trading price is $90 as of now

The Solana price analysis shows shaky bullish momentum with strong bearish opportunities. The bulls rule the SOL market but are likely to be taken out of the picture soon, and SOL now expects a further devaluation in the coming days. On the other hand, the bears appear to show firm footing and might engulf the market soon. As a result, the SOL price has experienced a crash from $94 to $90 and has remained around that threshold.

The market shows the price of Solana’s negative movement at the $90 mark. Solana continues a bullish movement. SOL currently trades at $90; SOL has been up 0.69% in the last 24 hours with a trading volume of $1,683,950,869 and a live market cap of $29,090,223,004. SOL currently ranks at #9 in the cryptocurrency rankings.

SOL/USD 4-hour price analysis: Latest developments

The Solana price analysis illustrates that the present condition of the market demonstrates bearish potential as the price moves downward. Moreover, the market’s volatility follows a slight closing movement, resulting in the cryptocurrency being less prone to volatile change on either extreme. As a result, the upper limit of the Bollinger’s band rests at $94, serving as the strongest resistance for SOL. Conversely, the lower limit of the Bollinger’s band is present at $84, serving as a support point for SOL.

The SOL/USD price travels under the Moving Average curve, indicating the market following a bearish movement. However, as the market experiences declining volatility today. In addition, the SOL/USD price seems to move towards the support band, signifying a possible reversal movement, which could explode the volatility in the market.

Solana price analysis: SOL loses value at $90.89 1
SOL/USD 4-hour price chart source: TradingView

The Solana price analysis reveals that the Relative Strength Index (RSI) score is 57 making the cryptocurrency stable, falling in the upper neutral region. Furthermore, the RSI score moves linearly, indicating the selling activity equaling the buying activity while moving towards stable dynamics.

Solana price analysis for 24-hours: SOL market closes

The Solana price analysis has maintained a bullish movement in the last few days. Moreover, as the volatility closes, the value of the cryptocurrency moves with a volatile change; the price is less prone to variable change in this instance. As a result, the upper limit of the Bollinger’s band rests at $99, serving as the most substantial resistance for SOL. Contrariwise, the lower limit of the Bollinger’s band rests at $75, serving as the strongest support for SOL.

The SOL/USD price appears to be crossing over the Moving Average curve, displaying bullish momentum. On the other hand, the market shows upward movement as the price favors a positive approach.

Solana price analysis: SOL loses value at $90.89 2
SOL/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) score appears to be 51, showing the cryptocurrency’s stable value. It falls in the upper neutral region. However, the RSI score follows a decreasing movement signifying a declining market and toward depreciating dynamics. The declining RSI score indicates selling activity superior to buying activity.

Solana Price Analysis Conclusion

The Solana price analysis shows bullish momentum with strong possibilities of a reversal in the coming days. The bears will soon capture the market if the bulls fail to conserve their momentum and maintain their trend. However, since the bears show massive potential, they can have a chance for the market; this can be possible if the price breaks the support. The market dynamic will be shifted in the bears’ favor.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

Related News

Hot Stories

Ripple price analysis: XRP/USD set to break above $0.54 overnight
Could You Become A Millionaire By Adding These Cryptocurrencies To Your Portfolio - Polkadot (DOT), And Logarithmic Finance (LOG)
Shiba Inu price analysis: SHIB continues to rise with $0.00001350 in sight
Ethereum price analysis: ETH swiftly breaks $1,250, strong upside next week?
The Crypto Coins That Will Make a strong Impact In 2023: CashFi (CFI), Polkadot (DOT), and Huobi Token (HT)

Follow Us

Industry News

Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon