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

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

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

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 0
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 0
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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News