Select Page

Solana Price Analysis: Bulls Need to Keep Price Above this Range to Ensure Next Leg Up

Solana Price Analysis: Bulls Need to Keep Price Above this Range to Ensure Next Leg Up
Loading...
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.
  • SOL price revives 35% off weekly low
  • Solana Bulls attempt breakout of 70 day downtrend
  • 30 Day MA needs to fully break to be in the clear

Solana Price Overview

Solana has been stuck within a bearish trend for nearly 70 days as the cryptocurrency market has failed to turn its trend back to bullish. Over the past couple days there has been strong momentum on BTC and other top coins which may signal mid cap coins such as Solana are next in line. The technology that SOL offers is very unique and has many advantages to other coins within its class. This type of utility will go a long way once the overall market picks back up to the speed of which it was at in the beginning of the year.

While looking at the chart, we can see how SOL has been bouncing around the last couple of months stuck under its downtrend. This pattern is very close to a descending triangle which is a typical bearish pattern but often time breaks to the upside. At the time of writing, SOL is above its important long term trend line.

As long as bulls can keep price above this trend along with the major support zone of $26.40-$27.80, SOL should continue moving north.

Solana Price Analysis: SOL/USDT 1 Day Chart

3R89ymfY

The major resistance for SOL to break & hold is the $29.62 mark which will send price straight to the 30 day MA. This MA has acted as a barrier the last few months which bulls have failed to smash through. Once this occurs, we can expect price to rise beyond the $30 zone. In the case these breakouts fail to occur, SOL will find support anywhere from $26.40-$27.80. If this box fails to hold, the next major support is found at $22.02.

While looking at the RSI, we can conclude strength is now above a 90 day trend line. As long the day candle closes above, SOL has flashed a very important trend changing signal. The MACD has followed a downtrend line which has held the MA’s from a bullish breakout. 

A break above the 0 line will trigger a massive rally to the upside. 

SOL intraday levels 

  • Spot rate: $29.48
  • Trend: Bearish
  • Volatility: Medium
  • Support: $27.80
  • Resistance: $29.62

The post Solana Price Analysis: Bulls Need to Keep Price Above this Range to Ensure Next Leg Up appeared first on Coingape.

 

Source: Coingape

 


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now
Loading...

Don't forget to share your review/suggestions for android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here
Loading...

Categories

Select Sub Category
category
6146c8db19b04
1
1
Loading....

Reviews

All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber

Recent Comments