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

Updated:

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 Is Stuck at the Recent High as Bears Resume Selling at $43
SOL/USD – Daily Chart

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.

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