Solana Is Stuck at the Recent High as Bears Resume Selling at $43

Solana (SOL) Current Statistics
The current price: $37.94
Market Capitalization: $19,408,234,674
Trading Volume: $1,234,320,043
Major supply zones: $100, $120, $140
Major Demand zones:$60,$40,$20

Solana (SOL) Price Analysis June 27, 2022
Solana’s (SOL) price is in a downtrend as bears resume selling at $43.  The altcoin has resumed an upward move as price broke above the 21-day line moving average. The bullish momentum broke the 21-day SMA but fail to break the 50-day line SMA. Since June 24, the cryptocurrency has been fluctuating between the moving averages. On the upside, if the bulls had broken the 50-day line SMA, the altcoin would have rallied to the high of $60. Nonetheless, Solana is falling to the low above the 21-day line SMA. A break below the 21-day line SMA will indicate that the coin is falling to revisit the previous low at $26.

Solana (SOL) Technical Indicators Reading
Solana is at level 47 of the Relative Strength Index for period 14. The altcoin is in the bearish trend zone as it faces rejection at the 50-day line SMA. In the meantime, Sol’s price bars are between the moving averages indicating a possible range-bound move. The cryptocurrency is below the 80% range of the daily stochastic. The market is in a bearish momentum. The coin may decline.


Conclusion
Solana is falling as bears resume selling at $43. The cryptocurrency may decline to the previous low at $26. The altcoin may resume a downtrend if the bears break below the current support.

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