Solana Finds Support above $17 as It Reaches the Oversold Region

Key Highlights
Solana has revisited the previous low of $17
SOL/USD reaches an oversold region

Solana ( SOL) Current Statistics
The current price: $17.58
Market Capitalization: $9,686,808,330
Trading Volume: $421M
Major supply zones: $60, $80,$100
Major demand zones: $50, $30, $10

Solana (Sol) Price Price Long-Term Prediction: Bearish
Solana’s (SOL) price is in decline as it reaches the oversold region of the market. The value of the coin has decreased since reaching a peak of $26. A series of lower highs and lower lows have been observed in the price of the cryptocurrency. The coin’s lowest price right now is $17.77. The cryptocurrency is currently attempting to surpass its low from March 9. The selling pressure will increase if the bears break through the current support.

Solana (SOL) Price Indicator Analysis
On the Relative Strength Index, Solana is at level 34 for period 14. While in the bearish trend zone, the altcoin is advancing into the oversold region. Given that they are below the moving average lines, the price bars are in a downward trend. The coin is now trading in the oversold region of the market. Currently, the daily Stochastic is below level 20. The slide has reached bearish tiredness.

What Is the Next Move for Solana (SOL)?
Solana has arrived at the portion of the market as it reaches the oversold region. It now exceeds the low from March 9. On March 9, the altcoin passed the $17 support once more and began to rise. The crypto price is currently hovering around the $17 level. The market will climb higher once again if the existing support holds.

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