Solana maintains it’s Uptrend and Holds Above $32.02

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Key Highlights
Solana revisits the previous high of $36
SOL/USD resumes a sideways move

Solana ( SOL) Current Statistics
The current price: $32.37
Market Capitalization: $16,560,870,772
Trading Volume: $16,560,870,772
Major supply zones: $50, $70, $90
Major demand zones: $40, $20, $10

Solana (Sol) Price Analysis October 30, 2022
Solana’s (SOL) price is in an upward correction but holds above $32.02. The altcoin is retracing above the 50-day line SMA. The altcoin will resume a fresh uptrend if the 50-day line support holds. The altcoin is now trading for $32 at the time of writing. If the 50-day line SMA support holds, Solana will trend upward. The coin will rise and revisit the previous highs of $36 and $40 price levels. Conversely, if the altcoin retraces and breaks below the 50-day line SMA, the altcoin will revisit the low of $30.

Solana Holds above $32.02 as It Continues to Correct Higher
SOL/USD – Daily Chart

Solana Technical Indicators Reading
Solana is at level 55 on the Relative Strength Index for period 14 as a result of an upward correction. Since the price bars are above the moving average lines, a further rise is indicated. The altcoin is in a bearish momentum because it is below the daily stochastic’s 40% zone.

Conclusion
Solana has resumed the sideways trend as it holds above $32.02. The cryptocurrency is range bound between $30 and $36 price levels. The altcoin has retraced to the low of $32 for a possible upward move. Solana will increase to the prior highs if it breaks above the $36 resistance.

Solana Holds above $32.02 as It Continues to Correct Higher
SOL/USD – 3 Hour 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.