Solana continues to perform despite a decline in the buying volume, booking a 6% increase in the past 24h. Key Support levels: Key Resistance levels: The resistance at is keeping bulls in check. They have been rejected at that level on Saturday. In the process, SOL has formed an ascending triangle, and a major breakout is expected over the coming days. Should bulls fail, then the price can quickly fall to the support. Chart by TradingViewTrading Volume: The considerable buying volume has allowed Solana to remain on the offensive, but the momentum is fading. RSI: The daily RSI is just under 80 points and is making lower highs. This is bearish. MACD: The daily MACD is still bullish but may do a bearish cross at any moment based on the histogram, which is also
Topics:
Duo Nine considers the following as important: Price Analysis, Solana (SOL) Price, SOLBTC, SOLUSD
This could be interesting, too:
Duo Nine writes Crypto Price Analysis Mar-17: ETH, XRP, ADA, BNB, DOT
Duo Nine writes ADA Surges 15% Off Critical Support, Here’s the Next Target (Cardano Price Analysis)
Duo Nine writes Crypto Price Analysis Mar-10: ETH, XRP, ADA, DOGE, MATIC
Duo Nine writes SOL Dives 7% Daily, is The Next Big Target? (Solana Price Analysis)
Solana continues to perform despite a decline in the buying volume, booking a 6% increase in the past 24h.
Key Support levels: $20
Key Resistance levels: $27
The resistance at $27 is keeping bulls in check. They have been rejected at that level on Saturday. In the process, SOL has formed an ascending triangle, and a major breakout is expected over the coming days. Should bulls fail, then the price can quickly fall to the $20 support.
Trading Volume: The considerable buying volume has allowed Solana to remain on the offensive, but the momentum is fading.
RSI: The daily RSI is just under 80 points and is making lower highs. This is bearish.
MACD: The daily MACD is still bullish but may do a bearish cross at any moment based on the histogram, which is also making lower highs.
Bias
The bias for SOL is neutral at this time.
Short-Term Prediction for SOL Price
There are some clear signs that Solana may not be able to overtake the key resistance at $27. Buyers would really need to step up to achieve that, and the current volume and indicators don’t show it.