Solana Drops Significantly as It Retests Its Previous Low at $30
Login

Solana Drops Significantly as It Retests Its Previous Low at $30

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

Azeez Mustapha

Updated:

Key Highlights
Solana revisits its previous low at $30
SOL/USD resumes downtrend

Solana ( SOL) Current Statistics
The current price:$31.64
Market Capitalization: $16,186,270,863
Trading Volume: $808,021,277
Major supply zones: $50, $70, $90
Major demand zones: $40, $20, $10

Solana (Sol) Price Analysis August 31, 2022
Solana’s (SOL) price is in a downtrend as it retests its previous low at $30. The cryptocurrency is falling and approaching the previous low at $26. The bears have broken previous support levels at $32 and $34 price levels. The altcoin will further decline to the downside if the bears break below the $30 support. Solana will fall to the previous low of $26. On the upside, buyers will have to break the resistance to regain bullish momentum.

Solana Drops Significantly as It Retests Its Previous Low at $30
SOL/USD – Daily Chart

Solana Technical Indicators Reading
Solana is at level 36 of the Relative Strength Index for period 14. The altcoin is in the bearish trend zone as it approaches the oversold region. The crypto’s price bars are below the moving average lines which indicates further decline. The altcoin is below the 40% range of the daily stochastic. Solana is in a bearish momentum.

Conclusion
Solana has fallen significantly to the downside as it retests its previous low at $30. The altcoin is now trading above the $30 support since June 28. The cryptocurrency is in the oversold region of the market. On a weekly chart, a retraced candle body tested the 78.6 % Fibonacci retracement on March 28. The retracement suggests that Solana will fall to level 1.272 Fibonacci extension or level $23.99.

Solana Drops Significantly as It Retests Its Previous Low at $30
SOL/USD – Weekly 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

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