Solana Falls as It Risks Decline to the $18.00 Low

Key Highlights
Solana loses the $20 support
SOL/USD risks decline to $18 low

Solana ( SOL) Current Statistics
The current price: $19.53
Market Capitalization: $10,712,644,620
Trading Volume:$231,191,414
Major supply zones: $60, $80,$100
Major demand zones: $50, $30, $10

Solana (Sol) Price Price Long-Term Prediction: Bearish
The price of Solana (SOL) is in the bearish trend zone as it risks a decline to the $18.00 low. The cryptocurrency asset dropped to its previous low of $20 before starting to rise again. Since March 24, the bears have been putting the prior $20 to the test. Over the previous week, the bears have challenged the present support more than three times, but they have been unable to break below it. However, according to the price indicator, the altcoin will fall to a low of $18.

Solana (SOL) Price Indicator Analysis
On the Relative Strength Index for period 14, Solana is at level 41. While in the bearish trend zone, the crypto asset runs the risk of declining. The moving average lines are still below the price bars, which leads the altcoin to decline. Solana’s variation is less than the daily Stochastic cutoff of 20. It demonstrates that the market’s oversold region has been reached.

What Is the Next Move for Solana (SOL)?
The price of Solana is clinging to the $20 support but risks decline to the $18.00 low. The altcoin will continue to go farther to the downside, based on the price signal. Following the price loss of May 8, SOL staged an upward reversal, and a candle body tested the 78.6% Fibonacci retracement level. SOL will decline but reverse course at the level of the 1.272 Fibonacci extension, or $18.88.

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