Solana Fluctuates in a Range as It Faces Rejection at $47

Updated:

Key Highlights
Sol is in a sideways move
SOL/USD faces rejection at $44

Solana ( SOL) Current Statistics
The current price: $39.57
Market Capitalization: $20,244,931,768
Trading Volume: $1,839,690,976
Major supply zones: $50, $70, $90
Major demand zones: $40, $20, $10

Solana (Sol) Price Analysis July 27, 2020
Solana’s (SOL) price is in an upward correction as it faces rejection at $47. The upward move is making progress as it reaches the high of $39. In the previous uptrend, the altcoin has been facing rejection at the $47 high. Buyers have not kept the coin above the $47 high since June 6. Nevertheless, if the bulls break the current resistance the market will reach a high of $59. Presently, the altcoin is falling and a break below the moving average will cause Solana to reach the low of $32.

Solana Fluctuates in a range as it faces rejection at $47
SOL/USD – Daily Chart

Solana Technical Indicators Reading
Solana is at level 48 of the Relative Strength Index for period 14. It indicates that it is in the bearish trend zone and may further decline.The altcoin is below the 40% range of the daily stochastic. It indicates that the altcoin is in a bearish momentum. The 21-day SMA and 50-day SMA are sloping horizontally indicating the sideways trend.


Conclusion
Solana has recovered from the downtrend as it faces rejection at $47. The price movement has been insignificant because of the presence of indecisive candlesticks called Doji. The candlestick are indicating that buyers and sellers are undecided about the direction of the market.

 Solana Fluctuates in a Range as It Faces Rejection at $47
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
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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.