logo

Solana price analysis: SOL shows slight declining dynamics at $43.5

Solana price analysis: SOL shows slight declining dynamics at $43.5
TL;DR Breakdown
  • Solana price analysis is bullish today.
  • The strongest resistance is present at $44.6.
  • The strongest support is present at $38.8.

Solana price analysis shows rising signs as the market shows massive upside potential. The bulls have regained their control of the Solana market, which will change the course of the market for the better, and SOL now expects the bullish period to take over in the next few days. However, the bears will do everything they can to regain control. As a result, the SOL price has experienced extreme increasing dynamics in the last few hours.

The market shows the price of Solana spiked yesterday to the $42.3 mark and further increased to $45.2. Solana continues a positive movement. However, the next day, Solana prices spiked and reached $43.5. SOL currently trades at $43.5; SOL has been up 3.25% in the last 24 hours with a trading volume of $1,766,256,036 and a live market cap of $15,282,871,127. SOL currently ranks at #9 in the cryptocurrency rankings.

SOL/USD 4-hour price analysis: Latest developments

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 an increasing movement, making the cryptocurrency more susceptible to volatile change on either extreme. As a result, the upper limit of the Bollinger’s band rests at $44.9, serving as the strongest resistance point for SOL. Conversely, the lower limit of the Bollinger’s band is present at $38.8, serving as a support point for SOL.

The SOL/USD price travels over the Moving Average curve, indicating the market is following a bullish movement. However, as the market experiences increasing volatility today, the Solana price has more room to preserve the positive trend. In addition, the SOL/USD price seems to move downward, signifying a decreasing market with consistent dynamics.

image 91
SOL/USD 4-hour price chart Source: TradingView

Solana price analysis reveals that the Relative Strength Index (RSI) score is 59 making the cryptocurrency enter the upper neutral region. Furthermore, the RSI score moves downward, indicating that the selling activity exceeds the buying activity while moving towards stability.

Solana price analysis for 24-hours

Solana price analysis has experienced a fluctuating movement in the last few days. However, with the volatility increasing. Moreover, as the volatility opens, it makes the value of the cryptocurrency more volatile to change. As a result, the upper limit of the Bollinger’s band rests at $44.6, serving as the most substantial resistance for SOL. Contrariwise, the lower limit of the Bollinger’s band rests at $36.6, serving as the strongest support for SOL.

The SOL/USD price appears to be crossing over the Moving Average curve, displaying bullish momentum. However, the support and resistance are opening up, indicating increasing volatility with massive chances of maintaining a positive trend. Hence, the price moves upwards towards increasing characteristics.

image 92
SOL/USD 1-day price chart Source: TradingView

The Relative Strength Index (RSI) score appears to be 57, showing the cryptocurrency’s stability. It falls in the central neutral region, just shying away from the inflation region. However, the RSI score follows a linear movement signifying a consistent market and gestures toward increasing dynamics. The increasing RSI score indicates buying activity exceeds the selling activity.

Solana Price Analysis Conclusion

Solana price analysis shows bullish momentum and further bullish opportunities. Moreover, the bulls have shown their deterrence and might take control of the market soon for the long term as the market shows massive signs of any change. Therefore, according to this analysis, Solana is expected to have a promising future, with the bulls taking the bears completely out of the picture.

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.

[wp-faq-schema title="FAQs" accordion=1]
Narmin

Narmin

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

Related News

Hot Stories

Solana price analysis: SOL declines in value to $33.7 after strong bearish trend
Contentos Vietnamese blockchain community launches NFT collection with the support of Contentos Foundation
NEO Price Prediction 2022-2031: Is it Good to Invest in NEO now?
HBAR Price Prediction 2022-2031: Hedera Hashgraph Soon to Retest its ATH?
Neo price analysis: NEO continues bullish flight as price touches $8.70

Follow Us

Industry News

NiceHash Launches First Solo Mining Hashpower Exchange Service to Help Struggling Crypto Miners
US Job openings fall by 6.2% - What does this mean for the crypto market?
Here are all the Three Arrows Capital NFT collection details on the verge of liquidation
Did authorities freeze Do Kwon's assets?
Crypto Exchange OKX blacklisted in Russia due to unclear grounds