Solana Can Rally Over 20% If It Breaches This Level
2023年4月28日 - 4:00AM
NEWSBTC
Over the past few trading sessions, the Solana price has been
lacking direction. It is currently showing a bearish trend. The
daily chart indicates that SOL has lost almost 4% of its value.
Over the past week, it has fallen by 5%, erasing most of its gains
due to the recent decline in price. Additionally, the technical
outlook for Solana is bearish. Demand has been falling as buyers
have stayed away. SOL also depicted negative accumulation at the
time of writing. Although SOL is currently heading in a bearish
direction, there is still potential for a rally if it breaks
through its overhead resistance level. Related Reading: Shiba Inu
Whales Unload Billions Amid SHIB Price Retreat However, this will
require a return of demand for the altcoin and consistent trading
of Bitcoin above the $28,000 mark. Continued consolidation for SOL
could lead to a loss of its current support and a subsequent drop
in value over future trading sessions. The market capitalization of
Solana has also decreased, indicating increased selling pressure on
the daily chart. Solana Price Analysis: One-Day Chart At the time
of writing, Solana was priced at $21.57. Its overhead resistance
level was identified at $23.30, which also serves as crucial as it
has previously acted as a sell zone for the coin. If SOL manages to
surpass this resistance level, it could potentially reach $26. This
will result in a price appreciation of almost 22%. Conversely, a
decline from the current price level would push Solana down to $20
and eventually $18. The trading volume of Solana in the last
session decreased, indicating a drop in demand for the altcoin at
the time of writing. It is important to note that breaching the
$23.30 resistance level would require a resurgence of demand for
SOL. Technical Analysis Over the past week, demand for the altcoin
has remained low, causing buyers to lose confidence, especially
after its fall from the $23 level. At the time of writing, the
Relative Strength Index indicated that selling strength had
surpassed buying strength, as it was below the 50 mark.
Additionally, SOL dropped below the 20-SMA line, signaling that
sellers had taken control of the market. However, there is still a
possibility for a bullish market if buyers make a slight push,
allowing Solana to rise above the 50-SMA line. This move could
attract more buyers and revive confidence in the altcoin. On the
one-day chart, SOL showed sell signals that are consistent with
other technical indicators. The Moving Average Convergence
Divergence, which reflects price momentum, has formed red
histograms that indicate sell signals for the altcoin. This signals
a bearish price trend. Related Reading: Ethereum Price Dips and
Then Rips Higher, Bulls Still Aim $2K Furthermore, the Directional
Movement Index (DMI) is negative, with the -DI line (orange)
positioned above the +DI line (blue). Additionally, the Average
Directional Index (red) has fallen below 20, indicating a weakening
direction in the current price. Featured Image From UnSplash,
Charts From TradingView.com
Solana (COIN:SOLUSD)
過去 株価チャート
から 3 2024 まで 4 2024
Solana (COIN:SOLUSD)
過去 株価チャート
から 4 2023 まで 4 2024