Solana Holds above $12 but May Decline as Low as $5.29

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Key Highlights
Solana surpasses the $13 barrier
SOL/USD fluctuates in a range.

Solana ( SOL) Current Statistics
The current price: $13.76
Market Capitalization: $7,377,112,156
Trading Volume: $322,554,204
Major supply zones: $60, $80,$100
Major demand zones: $50, $30, $10

Solana (Sol) Price Analysis December 13, 2022
Solana (SOL) price swings between $11 and $16 but may decline as low as $5.29.. Doji candlesticks, which are distinguished by their small bodies and ambiguity, are used to depict price fluctuation. These candlesticks show that traders are undecided about the direction of the market. The recession has the bears completely exhausted. No longer is there any apparent support or resistance. The altcoin has been trading marginally. Solana is currently being sold for $13.81.

Solana Holds above $12 but May Decline as Low as $5.29
SOL/USD – Daily Chart

Solana Technical Indicators Reading
On the Relative Strength Index for period 14, Solana is at level 41. As the market consolidates, the price indicator has horizontalized. The moving average lines are above the price bars, indicating a potential fall. The daily Stochastic level of 50 is above Solana, which is experiencing bullish momentum.

Conclusion
Solana trades above the $12 low but may decline as low as $5.29. Price has been holding steady above the support level. As a result of the deteriorating price signal, Solana might go as low as $5.29.

Solana Holds above $12 but May Decline as Low as $5.29
SOL/USD – Daily Chart

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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.