Solana Drops Sharply as It Consolidates Above $28

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 (SOL) Current Statistics
The current price: $45.22
Market Capitalization: $3,792,650,136
Trading Volume: $1,021,108,537
Major supply zones: $100, $120, $140
Major Demand zones:$80,$60,$40

Solana (SOL) Price Analysis June 14, 2022
Solana’s (SOL) price is in a downtrend as it consolidates above $28. Since May 12, the cryptocurrency has been trading between $37 and $60 price levels. The bulls faced rejection at the $58 high and further upward moves were restricted by the 21-day line SMA. On June 10, the bears broke the previous low at $37 and resumed selling pressure. Solana has declined to the low of $26 as the market reached the oversold region. The market has reached bearish exhaustion.

Solana Drops Sharply as It Consolidates Above $28
SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
Solana is at level 27 of the Relative Strength Index for period 14. The altcoin has fallen to the oversold of the market. The bearish trend is likely to subside. Buyers will take control of prices in the oversold region. Solana is below the 20% range of the daily stochastic. The altcoin is trading in the oversold region of the market. The crypto’s price bars are below the moving averages indicating further price fall.

Conclusion
SOL/USD has further declined below the previous low as  it consolidates above $28. The altcoin is consolidating above the $28 support. Meanwhile, on May 11 downtrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement indicates that Solana will fall to level 1.272 Fibonacci extensions or $27.84.

Solana Drops Sharply as It Consolidates Above $28
SOL/USD – Daily Chart

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

  • 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 *