Solana Declines to an Oversold Region, Unable To Sustain Above $200

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Solana consolidates above $130
SOL/USD reaches an oversold region

Solana (SOL) Current Statistics
The current price: $135.80
Market Capitalization: $69,185,352,074
Trading Volume: $2,037,799,674
Major supply zones: $280, $300, $320
Major demand zones: $160, $140, $120

Solana (SOL) Price Analysis January 10, 2022
Solana’s (SOL) price has continued its downward move but unable to sustain above $200. Buyers fail to keep price above the $200 high. On December 27 uptrend, the bulls broke above the moving averages but failed to keep the price above the $200 high. Consequently, SOL/USD was repelled as the altcoin dropped to the low of $133. In the previous price slump to $148 low, the altcoin was repelled at the high of $240. Today, the cryptocurrency has reached the low of $133 and a further downward move is unlikely.

Solana Declines to an Oversold Region, Unable To Sustain Above $200
SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
Solana is now at level 30 of the Relative Strength Index for period 14. SOL/USD has reached the oversold region of the market. The Selling pressure is likely to subside or end. Buyers are expected to emerge to push prices upward. The crypto’s price bars are below the 21-day SMA and the 50-day SMA indicating a further downward move.

Conclusion
Solana  is consolidating above $130 support but unable to sustain above $200. The cryptocurrency has reached bearish exhaustion. Meanwhile, on December 13 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Solana will fall to level 1.618 Fibonacci extensions or $81.34.

Solana Declines to an Oversold Region, Unable To Sustain Above $200
SOL/USD – Daily Chart


You can purchase crypto coins here. Buy Tokens


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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *