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Solana price analysis: SOL obtains positive momentum at $87

SOL

TL;DR Breakdown

  • Solana price analysis is bearish today.
  • The strongest resistance is present at $109.
  • Solana trading price is $87 as of now

The Solana price analysis shows rising signs as the market shows massive upside potential. The bulls have initiated their plans for the Solana market, which will change the course of the market for the better, and SOL now expects a new bullish period in the next few days. However, the bears will do everything in their power to keep their control. The SOL price has experienced a cup and handles movement in the last 48 hours and is expected to continue the trend.

The market shows the price of Solana spike yesterday to the $92 mark but declined soon after to $87. Solana continues a slight negative movement. SOL currently trades at $87; SOL has been down 0.96% in the last 24 hours with a trading volume of $2,051,332,460 and a live market cap of $27,827,020,352. SOL currently ranks at #8 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 bullish potential as the price moves upwards. Moreover, the market’s volatility follows a 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 $85, 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 closing volatility today, the Solana price has less room to move towards either extreme. In addition, the SOL/USD price seems to move towards the Moving Average curve, signifying a possible reversal movement, which could give bulls the opportunity they desperately need.

Solana price analysis: SOL obtains positive momentum at $87 1
SOL/USD 4-hour price chart source: TradingView

The Solana price analysis reveals that the Relative Strength Index (RSI) score is 46 making the cryptocurrency stable, falling in the lower-neutral region. Furthermore, the RSI score moves slightly upwards, indicating the buying activity exceeding the selling activity while moving towards stable dynamics.

Solana price analysis for 24-hours: SOL market squeezed

The Solana price analysis has experienced a fluctuating movement in the last few days. However, with the volatility decreasing, the bulls are starting to make moves against bears to initiate their coup against bears and take control of the market by force. Moreover, as the volatility closes, it makes the value of the cryptocurrency less volatile to change. As a result, the upper limit of the Bollinger’s band rests at $109.3, serving as the most substantial resistance for SOL. Contrariwise, the lower limit of the Bollinger’s band rests at $78, serving as the strongest support for SOL.

The SOL/USD price appears to be crossing under the Moving Average curve, displaying bearish momentum. However, the support and resistance are closing in, potentially breaking the market, resulting in a volatility explosion and a reversal trend.

Solana price analysis: SOL obtains positive momentum at $87 2
SOL/USD 1-day price chart source: TradingView

The Relative Strength Index (RSI) score appears to be 40, showing the cryptocurrency’s stability. It falls in the lower-neutral region. However, the RSI score follows an increasing movement signifying an expanding market and gestures towards stable dynamics. The rising RSI score indicates selling activity inferior to buying activity.

Solana Price Analysis Conclusion

The Solana price analysis shows bearish momentum with massive bullish opportunities. The market might soon be reversed if the market breaks, which is very likely. The bulls have made plans for Solana, and as the odds stack in their favor, they might engulf the market entirely.

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.

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