Ever since around mid-last month, Solana has been on a generally downward correction trend. However, from around the 27th of last month till now this crypto has been consolidating. Also, trading indicators reveal that this crypto’s price action lacks the steam to significantly rise higher.
SOL Forecast Statistics Data:
SOL current price: $31.78
SOL market cap: $11.11 billion
SOL circulating supply: 161.3 million
SOL total supply: 349.84 million
SOL Coinmarketcap ranking: #9
Is price action at the beginning of a considerable uptrend? What can we anticipate from this market? These we shall deduce from this analysis in a bit.
Major Price Levels:
Resistance levels: $31.78, $36.00, $40.00
Support levels: $34.57, $30.00, $28.00
Is Solana at the Beginning of Uptrend, Buyers Prefer Tamadoge
On the SOL/USD daily chart, price action has been moving sideways for some days. However, at this point Indicators are showing that should the detected favorable form continue price may rise steadily upwards. Furthermore, the Latest candle here is a green one, and this indicates that buyers are mounting buying pressure. Also, the Bollinger band can be seen trying to adjust to indicate the current sideways trend of the market.
And, as this progresses, price action seems to be getting closer to the center line of the Bollinger. Also, Th RSI curves continue to move upwards into the oversold region, after a minor correction. If the Buyers continue their fine form and keep gaining more upside momentum, Solana’s price will cross the Centerline of the Bollinger. Subsequently, this may lead to the price reaching above $36 soon, otherwise price will retrace lower supports.
Solana Price Forecast: SOL/BTC Value Continues to Attempt Climbing Higher
The SOL/BTC market is as well showing promising signs that this pair’s value may rise further. We can see that the latest bullish candle is almost reclining above the faster Moving Average, and between the 9/21 days Moving Averages. Also, the two MA curves appear as if to be attempting to converge.
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Furthermore, the RSI portrays that buyers are quickly picking up upward momentum. At this point, we can see that the RSI lines are at the 40.95% and 56.55% levels. Consequently, there remains more space for the upward momentum to build up. Additionally at this pace, Traders in this market can expect more short-term gains, as the value may soon reach near the 0.001642.
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