Solana Declines but Regains Bullish Momentum Above $20

Key Highlights
Solana declines sharply to the low of $20
SOL/USD is trapped now between the moving average lines

Solana ( SOL) Current Statistics
The current price: $21.62
Market Capitalization: $11,657,720,963
Trading Volume: $412,252,038
Major supply zones: $60, $80,$100
Major demand zones: $50, $30, $10

Solana (Sol) Price Price Long-Term Prediction: Bearish
Solana’s (SOL) price has fallen below the moving average lines but regained bullish momentum above $20. The price of the cryptocurrency dropped to a low of $20 before rising over the 50-day SMA. The selling pressure would have lasted if the bearish momentum was kept below the moving average lines. The price of Solana is currently trading between the moving average lines at $21.33. The market has gotten to the point where it is oversold as buyers start to turn up. There are bullish candlesticks today as the price of the cryptocurrency passes over the 50-day moving average line. SOL will rise to its prior highs on the upside, but the 21-day SMA will act as resistance. A bullish trend will restart if the crypto rises over the 21-day SMA. The altcoin will return to its previous high point of $26.

Solana (Sol) Price Indicator Analysis
The altcoin is at level 44 on the Relative Strength Index for period 14. The RSI indicates that the bearish trend zone will keep falling. Solana is currently trading between the moving average lines as a result of the most recent price change. Solana will have to move in a sideways direction because it is situated between the moving average lines. The market is oversold because it is now trading below the daily Stochastic threshold of 20.


What Is the Next Move for Solana (SOL)?
The 50-day SMA has been crossed above as it regains bullish momentum above $20. The cryptocurrency is still pinned between the moving average lines. The moving average lines will limit upward movement.

You can purchase crypto coins here. Buy LBLOCK

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing