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Solana price analysis: SOL attains stability at $100

SOL

TL;DR Breakdown

  • Solana price analysis is bearish today
  • The strongest resistance is present at $114.5
  • The strongest support is present at $96.3

Today’s Solana price analysis reveals a partial bearish movement in the market. However, the odds seem to fall out of the bears’ favor. As a result, the price of SOL experienced an increasing movement and reached $100, from $94.8; on 25 April 2022, SOL/USD continued an expanding trend the following day.

Today, on 26 April 2022, the price has been experiencing massive fluctuations, causing the price of SOL to increase slightly. As a result, SOL/USD price has regained some value and reached $100. SOL currently trades at $100. Solana has been up 4.11% over the previous 24 hours, with a trading volume of $1,244,934,906, ranking #6 with a live market capital of $33,541,608,406.

SOL/USD 4-hour analysis: Latest developments

The Solana price analysis revealed the market following a bullish trend as the market volatility remains constant, forcing the resistance and the support to stay in their places, making the cryptocurrency’s price stable until the volatility fluctuates. Consequently, the upper limit of the Bollinger’s band is present at $103.8, which acts as the strongest resistance for SOL. Conversely, the lower limit of the Bollinger’s band is available at $96.3, which acts as the strongest support for SOL.

The SOL/USD price appears to be crossing over the Moving Average curve, making the market bullish. Again, the price has maintained a bullish trend with much more room for a new bullish activity. The price seems to be following an upwards movement indicating an increasing market and the potential to increase the price of Solana even more.

Solana price analysis: SOL attains stability at $100 1
SOL/USD 4-hour price chart source: TradingView

The Solana price analysis reveals that the Relative Strength Index (RSI) score is 48, making SOL/USD fall in the central neutral region. However, the price follows a downwards trend indicating depreciation and dominant selling activity. As a result, the cost of Solana might soon enter the bearish territory, which will potentially decrease the price of SOL even more.

Solana price analysis for 1-day: Market closes

The Solana price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a declining trend, making Solana’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $114.5, which serves as the strongest resistance for SOL. Conversely, the lower limit of the Bollinger’s band exists at $93.9, which acts as the strongest support for SOL.

The SOL/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to be following an upward activity, showing signs of further increment and a possible takeover of the bullish trend.

Solana price analysis: SOL attains stability at $100 2
SOL/USD 1-day price chart source: TradingView

The Solana price analysis reveals the Relative Strength Index (RSI) score to be 45, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region, but following a linear approach signals stability and represents the buying activity equaling the selling activity, causing the RSI score to remain constant.

Solana Price Analysis Conclusion:

The Solana price analysis reveals the market following bearish movement, as the market shows potential for a reversal. The bears currently dominate the market and are fighting hard to maintain their control, but the bulls are not coming slowly either; the next 48 hours will decide the fate of the Solana Coin.

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.

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