Solana Is in the Fall, Returning to the Previous Low of $20

Key Highlights
Solana revisits its previous low at $20
The altcoin may resume a sideways move

Solana ( SOL) Current Statistics
The current price: $22.68
Market Capitalization: $ 12,566,683,199
Trading Volume: $ 374,873,223
Major supply zones: $60, $70,$80
Major demand zones: $30, $20, $10

Solana (Sol) Price Price Long-Term Prediction: Bearish
Solana’s (SOL) price has gone below the 21-day SMA, entering the bearish trend zone as it revisits the previous low of $20. In the downward trend, the cryptocurrency will face additional selling pressure. First, the decrease will reach the 50-day simple moving average.

Solana will be compelled to trade in a range between the moving average lines if the 50-day SMA support persists. The price will start to plummet again if it drops below the moving average lines. The price indication predicts a further drop to a low of $20.

If the bears break below the moving average lines, the drop might reach $16. In the meantime, the price bars are located between the moving average lines.

Solana (SOL) Price Indicator Analysis
Solana entered the negative trend zone after falling below the 21-day simple moving average. It is at Relative Strength Index level 45 for period 14. It suggests that the cryptocurrency is prone to falling. It may resume a sideways trend because it is caught between the moving average lines.

The drop has reached the oversold region below level 20 of the daily Stochastic. Further decline may cease.

What Is the Next Move for Solana (SOL)?
Solana is in decline as it revisits the previous low of $20. The dip was verified when it retested the $26 above resistance. The altcoin is currently oversold. At the point that the market is oversold, the selling pressure will stop.

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